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ESPOO - Nokia Oyj (HE:NOKIA) announced today a change in leadership with the appointment of Justin Hotard as CEO, succeeding Pekka Lundmark effective April 1, 2025. Hotard, currently leading Intel (NASDAQ:INTC)’s data center and artificial intelligence business, will bring over 25 years of experience in international technology companies to his new role at Nokia.
Nokia’s Board of Directors has chosen Hotard based on his track record of accelerating growth in technology firms and his deep understanding of the AI and data center markets, which are crucial for Nokia’s future growth. Hotard’s previous roles include leadership positions at Hewlett Packard Enterprise (NYSE:HPE) and NCR (NYSE:VYX) Corporation.
Sari Baldauf, Chair of the Nokia Board, expressed confidence in Hotard’s strategic vision and leadership capabilities, emphasizing his ability to create value for customers and shareholders. Baldauf also praised Lundmark for his significant contributions to Nokia, highlighting advancements during his tenure such as leadership in 5G radio networks, a strong position in cloud-native core networks, and growth in the Network Infrastructure business group.
Lundmark, who has been at the helm of Nokia since 2020, decided to step down to move on to the next stage of his career. He will continue to serve as an advisor to the new CEO until the end of the year to ensure a smooth transition.
The company will hold a press conference today to discuss the leadership transition, which can be followed via webcast. This announcement is based on a press release statement issued by Nokia.
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