Nokia on Cusp of Tech Revolution with New CEO Justin Hotard

Today, Justin Hotard begins his tenure as Nokia's new CEO.

His arrival comes at an important time for the telecommunications sector, with network providers under increased pressure to achieve exceptional performance, security and reliability thanks to rapid technological advancements.

Ad as cloud hyperscalers and technology firms aggressively push into the telecommunications realm, the competition sharpens, challenging traditional industry lines and setting the stage for a fierce rivalry for companies like Nokia.

This is where Justin comes in.

He brings to the table a wealth of specialised expertise in AI and data centre technologies from his previous leadership role at Intel, where he headed its Data Centre and AI Group.

This unique skill set is set to provide Nokia with a distinct edge in the telecommunications market,  and he outlines his strategy in his first address to Nokia employees.

How technology’s evolution has changed Nokia’s strategy 

Justin’s appointment was first announced in February, following the decision by the then-CEO, Pekka Lundmark to step down after a nearly five-year stint.

Under Pekka's leadership, which began in 2020, Nokia rebounded from earlier challenges and demonstrated strong growth, highlighted by a 9% increase in the last quarter of 2024, marking the company's best quarterly margin in 10 years.

Now, as the technology landscape has evolved, Nokia is keen on positioning itself more prominently at the nexus of telecommunications and computing — domains increasingly governed by AI-driven applications that require advanced network capabilities.

“What's always inspired me about being in technology from my early days, as an engineering student, is the positive impact that we have on humanity,” Justin says.

Justin prepares Nokia for “AI Supercycle”

At Nokia, Justin has identified AI as a key growth vector, describing the current trend as an "AI supercycle".

“The AI supercycle is presenting tremendous growth opportunities,” he says.

“First in Network Infrastructure, we are seeing massive early demand in the AI supercycle, for data centre builds.”

This emphasis on network infrastructures reflects the intense requirements that AI applications impose on data centres, which need advanced computing power and robust connectivity solutions to manage the enormous data volumes necessary for AI systems to function optimally.

With more than two decades of experience — including prominent roles at Intel, Hewlett Packard Enterprise (HPE) and NCR Corporation — Justin is equipped to steer Nokia through these complex challenges.
His AI and data centre expertise match the strategic focus that Nokia's board deems essential for the company’s future growth.

Sari Baldauf, Chair of Nokia's Board of Directors, expresses confidence in Justin's appointment, saying his “strong track record of accelerating growth in technology companies along with vast expertise in AI and data centre markets, which are critical areas for Nokia’s future growth”.

Nokia’s growth opportunities in communication service providers and enterprise markets 

Justin sees this technological shift as a catalyst for fundamental changes among Nokia's core customers — Communication Service Providers (CSPs).

“I believe in our Communication Server Provider market, our core CSP customers are also going to transform," he says.

“We saw this transformation in the internet era when they went from voice to data – and that means there's a great opportunity for our fixed infrastructure but more importantly for our Mobile Networks and Cloud and Network Services businesses.

“Beyond our core markets, there's a great emerging opportunity, in areas like defence and the enterprise and edge –  and that's because connectivity is no longer an option.

“AI, robotics, agentic AI — these are all creating new demands on secure, reliable connectivity.”

Justin’s vision for Nokia’s future

Justin emphasises the importance of Nokia's culture in achieving the company's strategic objectives as it faces competition.

“Great teams are not built because everybody has a unique skill, great teams are built because the complimentary skills of a collective team outperforms what any one individual could deliver,” he says.

“For companies to win in a time period like today, when the pace of innovation is so fast, it's critical that companies not only reinvent themselves, but stay focused – and what I mean by that is focused on their core technology, their core innovation, their core value-add for their customers.”

Justin describes himself as a “techno-optimist” but also emphasises the need to balance technological advancement with human needs and shareholder returns.

“I'm most excited about joining Nokia to help lead the company to its next chapter,” he says.

“We've got tremendous assets, tremendous technology – but it's also about making sure we maximise the opportunity in front of us with the market  – and I believe we have a great team to build that next chapter and next story.”

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