Finnish telecommunications company Nokia has named Justin Hotard as president and CEO, effective April 1.
Hotard brings 25 years of experience driving innovation, delivering revenue growth and leading technology. He will be joining the company from Intel, where he is currently executive vice president and general manager of Data Center & Artificial Intelligence. Before joining Intel, he held leadership roles in several companies, including Hewlett Packard Enterprise and NCR Corp.
Sari Baldauf, chairwoman of the board of directors at Nokia, welcomed the new appointment, noting Hotard’s “strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia’s future growth.”
The incoming chief executive succeeds Pekka Lundmark, who is stepping down on March 31 after holding the top post since 2020. Lundmark will serve as an adviser to Hotard until the end of 2025.
Baldauf highlighted Lundmark’s contributions to the company’s success in recent years, who joined “at a difficult time in Nokia’s history.”
“Under his tenure, Nokia has reestablished its technology leadership in 5G radio networks and built a strong position in cloud-native core networks,” the chairwoman said. “At the same time, Nokia has built strong foundations in new growth areas, refreshed the company’s brand and culture, transformed its operating model, and rebalanced its portfolio.”
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