Currently serving as the Vice President and General Manager of the Artificial Intelligence and Data Center group at Intel, Justin Hotard will become Nokia's new CEO starting from April 1st. The current CEO, Pekka Lundmark, has held the position since 2020 and will hand over the leadership to Justin Hotard, remaining with the company as an advisor until the end of the year. Telecom companies, facing challenges in 5G sales, are seeking ways to diversify their markets and capture a larger share of the artificial intelligence sector.
Nokia's Chairman of the Board, Sari Baldauf, stated that Justin Hotard possesses extensive experience in the artificial intelligence and data center fields, which are crucial for Nokia's future growth, and has a strong track record of accelerating growth in technology companies. This leadership change is related to Pekka Lundmark's decision to step down after determining the right successor as part of the company's restructuring process. He made the decision to leave his leadership role after the new CEO was selected.
Justin Hotard began leading Intel's artificial intelligence and data center operations in January 2024. During this time, he was part of Intel's executive leadership team, reporting directly to the CEO.
