Nokia Appoints Justin Hotard as New CEO, Replacing Pekka Lundmark

Finnish telecom giant Nokia announced today that its CEO, Pekka Lundmark, will step down, with Justin Hotard set to take over the role starting April 1.

Hotard, currently the Executive Vice President and General Manager of Intel’s Data Center & AI Group, brings extensive experience in artificial intelligence and data center markets: two key areas Nokia is targeting for future growth.

With telecom equipment makers facing declining sales in the 5G sector, companies like Nokia are seeking new opportunities in emerging technologies. Sari Baldauf, Nokia’s Chair, emphasized Hotard’s track record in driving growth in tech companies, stating, “His expertise in AI and data centers will be critical for Nokia’s future.”

Lundmark, who has led the company since 2020, will remain as an advisor to Hotard until the end of the year, ensuring a smooth leadership transition.

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