STOCKHOLM -- Nokia Siemens Networks announced today that Eric Simonsen will become chief financial officer, effective June 1, 2007. Simonsen is currently the company’s global head of restructuring and a member of the Nokia Siemens Networks executive board.

“We are pleased that Eric has agreed to take on this challenge. He brings great expertise in the telecommunications industry and a demonstrated ability to manage change,” said Simon Beresford-Wylie, chief executive officer of Nokia Siemens Networks.

Simonsen has held senior management positions at companies such as WorldCom Corp., Cable & Wireless America Inc. and Genuity Inc. From 1991 to 2001 he served as chief of operations and chief financial officer for Allmerica Financial Corp., a Fortune 400 company. Since 2002, Simonsen has worked at AlixPartners, a firm focused on helping corporations manage integration and financial restructuring. While he will continue to hold the position of Managing Director of AlixPartners, his role at Nokia Siemens Networks will be full time. Simonsen is an American citizen who has previously worked and lived in the Nordic region, and in his new role he will work in both Helsinki and Munich.

Simonsen assumes the CFO responsibilities from Peter Schoenhofer, who is resigning for personal reasons. Schoenhofer served as chief financial officer during the integration process and led the successful launch of the finance and control organization of Nokia Siemens Networks. “We are grateful to Peter for his excellent contributions to the start of Nokia Siemens Networks,” said Beresford-Wylie. “Thanks to him Nokia Siemens Networks is on its way to having the right finance and control systems and processes. He has been a close colleague and important member of the leadership team during a very demanding time of integration.”

Nokia Networks