- The president and chief executive officer of Nokia, Pekka Lundmark, descends after 4.5 years
- Intel Data Center & AI Exec Justin Hotard will replace it
- Lundmark will recommend Hotard until the end of the year
The CEO and president of Nokia, Pekka Lundmark, confirmed that he would leave the role of a few weeks, and the telecommunications giant has already confirmed his next leader.
Justin Hotard, who will take over from Lundmark from April 1, 2025, will go from his role of one year as an EVP and GM for Data Center & AI Business Group.
Before that, Hotard has spent eight and a half years in Hpe – his last three years in the company have been devoted to the management of his group of HPC & AI companies.
Nokia’s next CEO comes from Intel, Hpe
“”[Hotard] Has solid experience in accelerating the growth of technological companies as well as a vast expertise on the AI markets and data centers, which are critical areas for the future growth of Nokia, “said Sari Baldauf, president of the Nokia Board of Directors.
Hotard, who has spent time working through the United States in cities like Santa Clara, San Francisco, New York and Houston, as well as international locations like Beijing and Tokyo, will now be based at Nokia headquarters in Espoo, in Finland.
The new CEO added: “I am honored by the opportunity to direct Nokia, a world leader in connectivity with a unique heritage of technology. Networks are the backbone that the power company and companies and allow generational technology changes like the one we are currently living in AI. »»
The shares increased by 1.6% after the announcement, approximately 3.5 times higher than the wider Helsinki Stock Exchange (via PK Press Club).
Lundmark indicated his intention to retire similar roles: “Although I do not intend to stop working, I want to go from executive roles to work on a different quality, like a professional on the board of directors . “
After having resigned as CEO of March 31, 2025, he continued to serve as an advisor for Hotard until the end of the year.