Technology company Nokia's newly appointed President and Chief Executive Officer of Nokia, Justin Hotard attends at the company's press conference in Espoo, Finland on February 10, 2025. (Photo by Markku Ulander / Lehtikuva / AFP) / Finland OUT
Helsinki: Finnish telecommunications company Nokia announced on Monday that it will appoint Justin Hotard as its new chief executive officer (CEO), replacing Pekka Lundmark.
Lundmark, who has led Nokia since 2020, will step down in April and be succeeded by Hotard, an executive currently overseeing data center and artificial intelligence (AI) group at Intel, the company said in a press release.
Sari Baldauf, chairman of Nokia's Board, said Hotard has a strong track record of driving growth in technology companies and brings deep expertise in AI and data centers -- key areas for Nokia's future strategy.
Baldauf noted that Lundmark's departure was initiated by himself, and he will remain as an advisor to the new CEO until the end of the year.
Analysts said Hotard's background in data centers and AI signals the company's strategic focus on these sectors moving forward.
