Nokia Corporation (ADR) (NOK) Moves Forward with Alcatel-Lucent Deal – Naming Board Committees and Group Leadership Team


Something has awoken a sleeping giant today, as shares of Nokia Corporation (ADR) (NYSE:NOK) are trading up this afternoon. This comes on the heels of the company confirming the composition of the Board of Directors and composition of the Group Leadership Team and Board Committees, post Alcatel-Lucent deal which will become official on January 14, 2016

Nokia Corporation (ADR) (NYSE:NOK) now will have a Board of Directors that will consist of ten members. The company welcomes Jean C. Monty, Oliver Piou, and Louis R. Hughes to the board, as Elizabeth Doherty steps down.

The new board will consist of:
Risto Siilasmaa (Chairman)
Olivier Piou (Vice Chairman)
Vivek Badrinath
Bruce Brown
Jean Monty
Elisabeth Nelson
Kari Stadigh
Louis Hughes
Simon Jiang
Jouko Karvinen

This Board has now elected the members of the Board Committees as well. More info on its members can be found at the Nokia Corporation (ADR) (NYSE:NOK) website.

The stock is up 2.73% or $0.2 following the news, hitting $7.34 per share. About 23.92 million shares traded hands or up 149.69% from the average. NOK has declined 2.72% since June 4, 2015 and is currently downtrending. It has outperformed the S&P500 by 3.13%.

From a total of 7 analysts covering Nokia (NYSE:NOK) stock, 5 rate it a “Buy”, 1 a “Sell”, and 1 a “Hold”. This means that 71% of the ratings are positive. Nokia was the topic of 7 analyst reports since August 26, 2015 according to the firm StockzIntelligence Inc. Credit Suisse upgraded shares on December 1 to a “Outperform” rating. Credit Agricole initiated NOK stock in a recent report from September 22 with a “Buy” rating. Finally, Bernstein maintained the stock with a “Outperform” rating in a report they issued on a September 3.

Nokia Corporation is a Finland-based telecommunication and network infrastructure company. The company has a market cap of $28.51 billion. The Firm operates through two business divisions: Nokia Networks and Nokia Technologies. It has 25 P/E ratio. Nokia Networks offers network infrastructure software, hardware and services, and is divided into Mobile Broadband and Global Services.