Nokia CEO Pekka Lundmark to Step Down, Intel’s Justin Hotard Named Successor

Finnish telecommunications giant Nokia has announced that its President and Chief Executive Officer (CEO) Pekka Lundmark will step down from his role on March 31, 2025. Lundmark, who led the company through a transformative period, expressed his desire to move on from executive roles once the company’s repositioning was in a more advanced stage.

Sari Baldauf, Chair of Nokia’s Board of Directors, stated that Lundmark had informed the Board of his intentions and agreed to continue as an advisor to his successor until the end of 2025 to ensure a smooth transition.

The Board has appointed Justin Hotard, a senior executive from Intel, as the next President and CEO of Nokia. Hotard will officially take over the position on April 1, 2025.

Lundmark’s Contributions to Nokia

Pekka Lundmark joined Nokia during a challenging period and played a pivotal role in strengthening the company’s presence in 5G radio networks and cloud-native core networks. Under his leadership, Nokia also expanded into key technology sectors, including data centers, private wireless solutions, industrial applications, and defense technologies.

Additionally, Lundmark oversaw Nokia’s strategic brand refresh, cultural transformation, operational model shift, and portfolio realignment to position the company for future growth. His tenure saw Nokia reinforce its technological leadership and lay a strong foundation for long-term success.

Justin Hotard: A Strong Successor

Justin Hotard, currently leading the Data Center and Artificial Intelligence (AI) Group at Intel, brings over 25 years of experience in global technology firms. His deep expertise in AI and data center markets makes him an ideal choice to lead Nokia into its next phase of growth.

“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,” said Sari Baldauf.

Before joining Intel, Hotard held key leadership positions at Hewlett Packard Enterprise (HPE), including:

• Executive Vice President and General Manager of High-Performance Computing, AI & Labs
• President and Managing Director of Japan and China

His experience also includes roles at NCR Corporation, where he served as President and General Manager of the Global Small Business Cloud Platform, and Symbol Technologies (now acquired by Motorola Inc.), where he worked as Director of Product Management and Senior Manager of Corporate Development.

Hotard holds a Bachelor of Science in Electrical Engineering from the University of Illinois Urbana-Champaign and an MBA from the MIT Sloan School of Management.

A Vision for Nokia’s Future

Expressing his enthusiasm about his new role, Hotard emphasized the critical role of networks in AI-driven technological advancements.

“Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI,” Hotard said. “I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation.”

With Hotard’s extensive experience in AI, data centers, and high-performance computing, Nokia aims to strengthen its position in the evolving telecom and enterprise markets, paving the way for sustained innovation and expansion.

Sources By Agencies

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