Nokia announced on Monday a significant leadership transition. Pekka Lundmark, the current president and CEO of the company, has informed the Board of Directors that he will step down from his position. In his place, Justin Hotard will assume the presidency and CEO role at Nokia starting April 1, 2025.
Hotard, currently leading the Data Centers and AI group at Intel, has over 25 years of experience in the technology sector. He has held senior positions at companies like Hewlett Packard Enterprise (HPE) and NCR Corporation, specializing in innovation and growth in strategic markets such as artificial intelligence and cloud infrastructure.
“I am thrilled to welcome Justin to Nokia. He has a strong track record in driving technological growth and extensive experience in AI and data centers, which are critical areas for Nokia’s future,” said Sari Baldauf, chair of the Board of Directors of the company.
For his part, Hotard stated that it is “an honor to lead Nokia, a global company with a unique legacy in technology. Networks are the backbone that drives society and digital transformation, and we are facing a generational shift with AI. I am excited to begin this new chapter and continue the transformation of the company.”
A change at a pivotal moment for Nokia
Pekka Lundmark took leadership of Nokia in 2020 at a challenging time for the company. Under his management, the company has reaffirmed its leadership in 5G networks, strengthened its position in cloud infrastructure, and improved the profitability of its patent licensing business. He has also been key in the rebranding and transformation of its operating model.
The Board of Nokia has been preparing for this change since Lundmark expressed his intention to leave his executive role once the business restructuring was well underway and an appropriate successor was in place. Now, with these two objectives achieved, Lundmark has decided to step aside.
“It has been a privilege to lead Nokia. We have succeeded in reclaiming our technological leadership and positioning ourselves for growth in data centers, private networks, and industrial artificial intelligence. This is the right time for the company to continue evolving under new leadership,” said the outgoing CEO, who will remain as an advisor to Hotard until the end of 2025 to ensure a smooth transition.
Hotard’s challenge: expanding Nokia’s presence in the age of AI
Hotard’s appointment comes at a crucial time for Nokia, as the company seeks to broaden its influence in the artificial intelligence and cloud computing sectors. Under his leadership, the company will focus on the digital transformation of telecommunications infrastructures and the development of networks that can integrate advanced AI capabilities.
Furthermore, Nokia must continue to strengthen its position in 6G networks, telecommunications infrastructure, and enterprise software, while facing increasing competition from giants like Huawei, Ericsson, and Samsung in the network market.
Hotard will be tasked with making Nokia a significant player at the intersection of telecommunications, AI, and data centers, maintaining its reputation for secure and reliable connectivity.
With this change, Nokia is poised for a new phase of innovation and expansion, betting on artificial intelligence as a growth driver in the telecommunications industry.
Source: Nokia