Lisa Cook sues Trump over firing attempt, emergency hearing set
ESPOO, Finland - Nokia (HE:NOKIA) Corporation announced a significant change in its leadership today, with the appointment of Justin Hotard as the next President and Chief Executive Officer, effective April 1, 2025. Hotard will succeed Pekka Lundmark, who has decided to step down after leading the company since 2020.
Hotard brings over 25 years of experience in the global technology sector, including his most recent role as the head of the Data Center & AI Group at Intel (NASDAQ:INTC). His career also includes leadership positions at Hewlett Packard Enterprise (NYSE:HPE) and NCR (NYSE:VYX) Corporation. The Board of Directors at Nokia expressed confidence in Hotard’s strategic vision and leadership abilities, which they believe align with the company’s focus on growth and value creation in the areas of AI and data center markets.
Under Lundmark’s tenure, Nokia has re-established its technological leadership, particularly in 5G radio networks, and has seen growth and profit improvement in its Network Infrastructure. The company has also secured the longevity of its patent licensing business and laid strong foundations for future growth in new areas like data centers, private wireless, and defense.
Lundmark expressed pride in the team’s accomplishments during his leadership and stated that the timing felt right for a transition. He plans to explore a different capacity of work, potentially as a board professional, after stepping down on March 31, 2025. He will continue to serve as an advisor to Hotard until the end of the year to ensure a smooth transition.
The announcement was made alongside a media and financial analysts event held today, where further details about the leadership transition were discussed.
This leadership change comes at a time when Nokia is positioning itself to capitalize on emerging opportunities in the technology sector and continues to transform its business strategy to maximize growth potential.
The information for this article is based on a press release statement issued by Nokia.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.