**Nokia Appoints Justin Hotard as New CEO Following Pekka Lundmark’s Departure**
Nokia has announced the appointment of Justin Hotard, a prominent figure in the tech industry, as its new chief executive, succeeding Pekka Lundmark. With over 25 years of experience in artificial intelligence and technology, Hotard joins the Finnish telecommunications company after serving as Intel’s head of AI and data centers.
Pekka Lundmark, who has been at the helm of Nokia since 2020, will step down on March 31 to pursue the next phase of his career. As Nokia aims to enhance its presence in AI and technology, here’s what you need to know about its incoming CEO.
Born in 1974, Justin Hotard has extensive experience in the tech sector, having worked with major companies such as Intel and Hewlett Packard Enterprise. In a video message, he expressed his enthusiasm for starting his new role and emphasized his commitment to advancing Nokia’s transformation to unlock growth and value creation. He aims to integrate AI into the company’s operations and position Nokia as a global leader in connectivity during the AI era.
Currently serving as the executive vice president and general manager of the Data Center & AI Group at Intel, Hotard will officially take over as Nokia’s CEO on April 1. Prior to his tenure at Intel, he held significant roles at NCR Corporation, where he successfully executed multiple acquisitions and investments to expand the company’s market presence.
Hotard holds an MBA from the MIT Sloan School of Management and a B.Sc in Electrical Engineering from the University of Illinois Urbana-Champaign. Sari Baldauf, Chair of Nokia’s board of directors, highlighted that Hotard’s expertise in AI and data center markets will be crucial for Nokia’s future growth.
As Nokia looks to streamline its operations and expand its business in response to slower growth from mobile operators, the company is considering various options for its mobile network division, including potential sales or partnerships.
