Nokia Chairman to Step Down
Friday, February 5, 1999; 11:47 a.m. EST
HELSINKI, Finland (AP) -- The chairman of Finnish telecommunications company Nokia plans to step down in March after about seven years in the post. The disclosure Friday cited no reason for Casimir Ehrnrooth's decision against standing for reelection at the company's annual meeting March 17.
Nokia officials declined to elaborate.
Ehrnrooth, 67, has been a member of the Nokia board since 1989 and its chairman since 1992.
Last week, Nokia reported a record pre-tax profit in 1998 of 14.6 billion markkaa ($2.92 billion), up from 8.4 billion markkaa in 1997.
Net sales increased 51 percent to 79.2 billion markkaa ($15.5 billion), from 52.6 billion markkaa in 1997.
Nokia is a world leader in digital mobile phone technology, and has supplied equipment to 78 operators in 37 countries. It has sales in 130 countries, and employs 44,500 people.
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