Nokia plans to appoint former networks head Sari Baldauf as chairman

Telecoms equipment maker Nokia announced on Tuesday that it plans to appoint its former networks chief Sari Baldauf as chairman, succeeding Risto Siilasmaa who will step down after eight years in the job.

The chairman is the top executive role at Nokia, which in October cut its outlook for this year and next because of the need to step up its investments in 5G – news that knocked a third off its share price.

It also suspended dividend payments to conserve cash and pledged to speed up the introduction of new 5G chipsets.

Baldauf, 64, will be one of the most high-profile female executives in the telecoms industry globally. She headed Nokia’s networks unit – now the company’s main business – between 1998 and 2005 and currently sits on the board of Nokia.