Why Nokia Has Named Intel’s AI Chief as Its New CEO
Nokia has announced a change in leadership, as Pekka Lundmark, the current President and CEO, has decided to step down.
The date set for his departure is 31 March 2025, paving the way for a new President and CEO, Justin Hotard, on 1 April 2025.
Justin currently spearheads Intel’s Data Center & AI Group after joining the company last January, so this transition aligns with Nokia's strategic vision that focuses on AI and high-performance computing which are integral to modern telecom operations.
In helping to ensure a seamless transfer of responsibilities, Pekka will continue with Nokia in an advisory capacity until the end of 2025.
On his LinkedIn profile, Pekka said: “I’m proud of the work our brilliant team has done in re-establishing our competitiveness and technology leadership and in positioning the company for growth in data centres, private wireless and industrial edge and defence.
“It wasn’t an easy decision to step down, but I feel it is the right time for me to move on.”
Nokia’s achievements under Pekka Lundmark
Pekka’'s tenure, beginning in 2020, marked a challenging yet transformative period for Nokia.
Under his stewardship, the company not only rebounded but also showcased robust growth metrics, including a remarkable 9% growth in the final quarter of 2024, which was documented as the best quarterly margin in a decade, according to data from Nokia's recent financial results.
This period of leadership also saw Nokia enhance its presence in critical next-generation technologies, including 5G radio networks vital for speedy mobile connectivity and cloud-native core networks that enable telecom operators to streamline service management significantly.
Nokia additionally expanded its portfolio into emerging markets such as data centres and private wireless networks – areas that remain critical for enterprises adopting AI and industrial automation technologies.
“I see great opportunities for Nokia to build on this foundation and I’m enormously grateful to the talented, committed and hard-working team at Nokia for everything we have achieved together,” Pekka said on LinkedIn.
Nokia’s future with Justin Hotard
Justin brings over two decades of vital experience to his new role at Nokia.
His expertise spans across critical areas like high-performance computing and AI innovations, which are vital for telecom providers aiming to elevate network efficiency and enhance user experiences.
Before his tenure at Intel, Justin held significant roles at Hewlett Packard Enterprise (HPE) and NCR Corporation, equipping him with a background in tech leadership.
With plans to relocate to Nokia's headquarters in Espoo, Finland, his leadership is seen as crucial for Nokia's continual push into AI and technology-driven solutions.
Sari Baldauf, Nokia’s Chair of the Board, expresses great confidence in Hotard, stating: “He has a 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.
“In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia.”
In recognition of his appointment, Justin shared: “I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI.
“I am excited to get started and look forward to continuing Nokia’s transformation journey to maximise its potential for growth and value creation.”
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