Intel's AI chief becomes new Nokia CEO

Leadership change at Nokia Intel's AI chief becomes new Nokia CEO

2025-02-19 From Manuel Christa | Transalted by AI 1 min Reading Time

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The Finnish telecommunications company Nokia has announced that CEO Pekka Lundmark will step down on March 31, 2025. His successor will be Justin Hotard, currently head of the Data Center & AI Group at Intel, who will take over the position on April 1, 2025.

Intel's head of the Data Center and AI Group (DCAI), Justin Hotard, will become the new CEO of Nokia.(Image: Intel Corp.) — Intel's head of the Data Center and AI Group (DCAI), Justin Hotard, will become the new CEO of Nokia.
(Image: Intel Corp.)

Justin Hotard brings over 25 years of experience in the technology industry and has held significant leadership positions at global companies such as Hewlett Packard Enterprise and NCR Corporation throughout his career. At Intel, he most recently served as Executive Vice President and General Manager of the Data Center & AI Group.

Sari Baldauf, Chair of the Nokia Board, commented positively on the appointment: "He has a strong track record in accelerating the growth of technology companies, as well as extensive expertise in the AI and data center markets, which are crucial for Nokia's future growth."

Strategic focus on AI and data centers

Pekka Lundmark, who has led Nokia since 2020, stated upon his resignation: "I have led publicly listed companies for more than two decades, and while I do not plan to stop working, I want to step back from operational roles to serve in other capacities, such as an advisor." He will serve as an advisor to his successor until the end of the year.

Analysts see Hotard's appointment as a strategic move by Nokia to expand its business in the areas of artificial intelligence and data centers. These markets are considered to be high-growth and offer potential for the company's future developments.

In recent years, Nokia has taken steps to strengthen its position in these areas. Last year, it announced the acquisition of the US-based optical networking equipment manufacturer, Infinera, for 2.3 billion US dollars to benefit from the increasing investments in data centers amid the AI boom.

Nokia's shares reacted positively to the announcement of the leadership change, rising by 1.6 percent to 4.7 euros (4.94 US Dollars) on the Helsinki Stock Exchange. (mc)

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Date: 08.12.2025

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