Nokia selects Justin Hotard as new CEO

Published 10/02/2025, 07:04
Nokia selects Justin Hotard as new CEO

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.