NSN Names New Execs

ESPOO, Finland -- Nokia Siemens Networks today announced that Luca Maestri is to join the Company as Chief Financial Officer and Michael Matthews is to join as Head of Strategy and Business Development as the Company prepares to move beyond its integration phase. In addition to their functional roles, both will be members of the Nokia Siemens Networks Executive Board.

Maestri joins from General Motors, where he most recently held the position of Chief Financial Officer, General Motors Europe, Europe’s fastest-growing automotive group in 2007. Prior to this role, Maestri served as CFO of GM’s Mercosur operations, where he helped execute a successful turnaround of the business, leading to strong revenue and profit growth, improvement in cash flow, and a strengthened balance sheet. Maestri has also held senior positions in GM operations in the United States, Brazil, Thailand, Italy and Singapore.

Maestri will join Nokia Siemens Networks on 1 October 2008, and will formally assume the Chief Financial Officer role on 1 November 2008. Eric Simonsen, the outgoing CFO, will start his retirement in December 2008, following the two-month transition and hand-over period.

“Eric came on board as an integration and restructuring specialist following our merger in April 2007 and his expertise and wisdom have been instrumental in the execution of a successful merger process in very tough circumstances. Nokia Siemens Networks is a stronger company as a result of his contributions,” said Simon Beresford-Wylie, Chief Executive Officer of Nokia Siemens Networks. “He has paved the way for Luca to play a key role in our continued transformation into a world-class company.”

Nokia Networks