- Nokia President and CEO Pekka Lundmark steps down after 4.5 years
- Intel Data Center & Ai Exec Justin Hotard replaces him
- Lundmark will advise hotard until the end of the year
Nokia CEO and President Pekka Lundmark have confirmed that he will step down from the role in just a few weeks, and the telecommunications giant has already confirmed his next leader.
Justin Hotard, who takes over from Lundmark from April 1, 2025, goes on from his long -standing role as Intels EVP and GM for Data Center & AI Business Group.
Before it spent Hotard eight and a half years at HPE-Hans last three years in the company was spent leading its HPC & AI business group.
Nokia’s next CEO comes from Intel, HPE
“[Hotard] Has a strong track record to accelerate growth in technology companies along with tremendous expertise in AI and data center markets, which are critical areas of Nokia’s future growth, “commented Sari Baldaud, chairman of Nokia’s board of directors.
Hotard, who has spent time working throughout the United States in cities such as Santa Clara, San Francisco, New York and Houston, as well as international locations such as Beijing and Tokyo, will now be based on Nokia’s headquarters in Espoo, Finland.
The new CEO added: “I am honored with the opportunity to lead Nokia, a global leader in connection with a unique inheritance in technology. Networking is the backbone that Power Society and Business, enabling generation technology, is changing as the one we are currently experiencing in AI. “
Shares rose 1.6% after the message, about 3.5x higher than the wider Helsinki stock exchange (via Pakinomist).
Lundmark indicated that he was intended to retire from similar roles: “Although I do not plan to stop working, I will move on from executing roles to work in another capacity, such as a board professional.”
After resigning as CEO of March 31, 2025, he will continue to act as an advisor to Hotard until the end of the year.
