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Nokia appoints Intel's Justin Hotard as CEO as Lundmark steps down

Mon 10 Feb 2025 12:43

(Sharecast News) - Nokia said on Monday that it has appointed Intel's Justin Hotard as its next president and chief executive, as Pekka Lundmark plans to step down. The Finnish telecommunications firm said that after leading the group since 2020, Lundmark has decided to step down from executive roles and "move on to the next phase of his career".

Hotard, who will start in his new role on 1 April, has 25 years of experience with global technology companies, "driving innovation, technology leadership and delivering revenue growth". He currently leads the Data Center & AI Group at Intel.

Prior to that, he held several leadership roles at large technology companies, including Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia's headquarters in Espoo, Finland.

Sari Baldauf, chair of Nokia's board of directors, said: "I am delighted to welcome Justin to Nokia. He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia's future growth.

"In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia."

Lundmark will step down at the end of March but will stay on as an advisor to the new CEO until the end of the year.

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