Nokia Names Intel’s AI Chief Hotard as New CEO
Nokia has announced a leadership transition, with Justin Hotard set to take over as CEO on April 1, 2025, replacing Pekka Lundmark. Hotard, currently Intel’s Executive Vice President and General Manager of Data Center & AI Group, brings vast expertise in artificial intelligence (AI) and data centers, crucial for Nokia’s future growth. Nokia’s Chair Sari Baldauf highlighted Hotard’s track record in accelerating growth in technology firms. Lundmark, who led Nokia since 2020, will stay on as an advisor until the end of the year to ensure a smooth transition.
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| Summary/Static | Details |
| Why in the news? | Nokia Names Intel’s AI Chief Hotard as New CEO |
| New CEO | Justin Hotard |
| Previous Role | EVP & GM, Data Center & AI Group, Intel |
| Joining Date | April 1, 2025 |
| Outgoing CEO | Pekka Lundmark |
| Lundmark’s Role Post-Exit | Advisor until the end of 2025 |
| Reason for Change | Lundmark wanted to step down after Nokia’s repositioning |
| Key Focus Areas | AI, data centers, technology growth |
| Nokia’s Challenge | Declining 5G equipment sales |
| Recent Cost-Cutting | 2,000 job cuts in China, 350 in Europe |
| Company Statement | Hotard’s expertise in AI & data centers is vital for Nokia’s future |
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