- Nokia’s president and executive director, Pekka Lundmark, takes a step to 4.5 years
- Intel Data Center and the Executive of AI Justin Hotard will replace it
- Lundmark will advise Hotard until the end of the year
The CEO and president of Nokia, Pekka Lundmark, has confirmed that he will resign the role in just a few weeks, and the telecommunications giant has already confirmed his next leader.
Justin Hotard, who will assume the position of Lundmark as of April 1, 2025, will go from his role as an EVP of Intel and GM for Data Center & AI Business Group.
Before that, Hotard spent eight and a half years in HPE: his last three years in the company dedicated themselves to lead their HPC & AI business group.
Nokia’s next CEO comes from Intel, HPE
“[Hotard] It has a solid history of accelerating growth in technology companies along with great experience in AI markets and data centers, which are critical areas for the future growth of Nokia, “said Sari Baldauf, president of the Board of Directors of Nokia.
Hotard, who has spent time working in the United States in cities such as Santa Clara, San Francisco, New York and Houston, as well as in international places such as Beijing and Tokyo, will now be based at Nokia headquarters in Espoo, Finland.
The new CEO added: “I feel honored for the opportunity to lead Nokia, a world connectivity leader with a single technology heritage. Networks are the spine that society and energy companies, and allow changes in generational technology such as the one we are currently experiencing in AI “.
The shares increased 1.6% after the announcement, around 3.5 times higher than the broader helsinki securities (through PakGazette).
Lundmark indicated his intention to retire from similar roles: “Although I don’t plan to stop working, I want to move from executive roles to work in a different capacity, such as a Board professional.”
After giving up as CEO from March 31, 2025, he will continue to serve as Hotard advisor until the end of the year.
