Nokia has elected Timo Ihamuotila as its new Board Chair at its 2026 Annual General Meeting (AGM), marking a significant leadership transition for the telecom giant.
Ihamuotila succeeds Sari Baldauf, who is stepping down after years of steering the company’s board through a period of strategic transformation and industry shifts. The change comes as Nokia continues to strengthen its position in global network infrastructure, particularly in 5G, cloud, and enterprise solutions.
Bringing decades of financial and executive experience, Ihamuotila is widely recognized for his leadership across major European corporations. He previously served as Chief Financial Officer at Nokia from 2009 to 2016, where he played a critical role during one of the company’s most challenging restructuring phases, including its transition away from the mobile handset business.
Beyond Nokia, Ihamuotila has held senior roles at KONE, where he served as CFO, contributing to the company’s global expansion and financial performance. He has also been actively involved in board-level roles across multiple multinational firms, strengthening his governance and strategic oversight credentials.
His appointment signals continuity in Nokia’s governance while reinforcing a strong financial and operational lens at the board level. As the telecom industry faces increasing competition, rapid technological change, and growing demand for digital infrastructure, Ihamuotila’s experience is expected to support Nokia’s long-term strategy and shareholder value creation.
The leadership transition reflects a broader effort by Nokia to align its board structure with evolving market dynamics and future growth priorities.
