Nokia and Siemens today announced the future top executive team for Nokia Siemens Networks, the recently announced 50-50 joint venture that combines the Networks Business Group of Nokia and the carrier-related operations of Siemens. The new company is expected to start operations by January 1, 2007, subject to customary regulatory approvals, the completion of standard closing conditions, and the agreement of a number of detailed implementation steps.

The team consists of:

- Mika Vehviläinen, who will serve as Chief Operating Officer. Vehviläinen is currently Senior Vice President & General Manager, Core Networks, Nokia. As Chief Operating Officer, Vehviläinen will have overall responsibility for the following business units: Radio Access, Operation Support Systems, Service Core and Applications, IP Networking and Transport, as well as Broadband Access. In addition, he will oversee Operations (sourcing, manufacturing and logistics) and the Technology Platforms and Quality organization.

- Karl-Christoph Caselitz, who will serve as Chief Market Operations Officer. Caselitz is currently President of Mobile Networks, Siemens Communications. As Chief Market Operations Officer, Caselitz will have responsibility for regional operations, management of global accounts, and marketing and sales management. He will also oversee the Services business unit of Nokia Siemens Networks.

- Peter Schönhofer, who as previously announced will become Chief Financial Officer. Schönhofer is currently a member of the executive board of Siemens AG Austria. Schönhofer will be responsible for all financial activities of Nokia Siemens Networks, as well as information technology and intellectual property rights.

"This is a team of strong leaders drawn from the best of the parent companies," said Simon Beresford-Wylie, who will assume the position of Chief Executive Officer at Nokia Siemens Networks immediately upon the closing of the merger. "They will play a leadership role in the integration planning process and execution of those plans after closing. I am pleased to have this terrific team as my partners moving forward." Beresford-Wylie is currently Executive Vice President and General Manager of Networks at Nokia.

The appointments announced today become effective immediately upon the closing of the merger. When the transaction closes, Nokia Siemens Networks will be a global communications leader with strong positions in important growth segments of fixed and mobile network infrastructure and services. It will be positioned to lead the development and implementation of revenue-generating and cost-saving products and services via its scale and global reach. The combined company will have a world-class fixed-mobile convergence capability, a complementary global base of customers, a deep presence in both developed and emerging markets, and one of the industry's largest and most experienced service organizations.