Nokia has announced that Justin Hotard will join the company as its president and chief executive officer.
Pekka Lundmark, the current president and chief executive officer, previously informed the board that he will step down. Lundmark had led Nokia since 2020 but has decided to step down from executive roles and move on to the next phase of his career.
Hotard (pictured) is due to start his new role on 1 April 2025 and will be based at Nokia’s headquarters in Espoo, Finland.
Hotard joins Nokia from Intel and has more than 25 years’ experience driving innovation, technology leadership and delivering revenue growth for global technology companies.
At Intel, Hotard led the organisation’s data centre and AI group. Prior to that role, he worked at Hewlett Packard Enterprise and NCR Corporation.
Sari Baldauf, chair of Nokia’s board of directors, commented, “I am delighted to welcome Justin to Nokia. He has a 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.
“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.”
Hotard said, “I am honoured 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.”
Lundmark will step down on 31 March 2025. He will continue as an advisor to the new CEO until the end of the year.