Finnish telecommunications giant Nokia announced on Monday that its current CEO, Pekka Lundmark, will step down from his role on March 31, 2025, and be succeeded by Justin Hotard, the head of AI and data centers at Intel.
Lundmark, who has led Nokia since 2020, expressed his decision to transition away from executive roles.
“I want to move on from executive roles to work in a different capacity, such as a board professional,” Lundmark stated.
Hotard, currently serving as executive vice president at Intel and general manager of its artificial intelligence and data center group, will take over as Nokia’s CEO on April 1, 2025.
“I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation,” Hotard said.
Nokia’s chairwoman Sari Baldauf highlighted Hotard’s expertise in AI and data centers as key assets for Nokia’s future.
“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,” Baldauf said.
With over 25 years of experience in leading technology firms, including Hewlett Packard and NCR Corporation, Hotard’s appointment signals Nokia’s commitment to AI-driven innovation and digital transformation in the telecom sector.
A Strategic Shift for Nokia
Nokia has been navigating a rapidly evolving telecom landscape, with increasing focus on 5G, AI, and cloud computing. Hotard’s background in AI and data centers aligns with the company’s strategy to strengthen its position in next-generation networking and computing solutions.
Lundmark, who played a key role in restructuring Nokia, leaves as the company continues its shift toward software-driven networks and AI-powered telecommunications.
With Hotard at the helm, Nokia looks set to accelerate its growth in AI-powered networks, cloud computing, and data-driven infrastructure, shaping the future of global connectivity.
