Nokia appoints Justin Hotard as new CEO
Nokia has named Justin Hotard as its new president and CEO, effective April 1, 2025. He replaces Pekka Lundmark, who is stepping down from the role at the end of March.
Nokia has announced that Justin Hotard will succeed Pekka Lundmark as president and CEO starting April 1, 2025. Hotard currently leads the Data Center & AI Group at Intel and brings over two decades of experience from technology firms including Hewlett Packard Enterprise and NCR Corporation. He will be based at the company’s headquarters in Espoo, Finland.
Pekka Lundmark, who has led Nokia since 2020, will step down on March 31, 2025, but will remain as an advisor to the new CEO through the end of the year. Board Chair Sari Baldauf stated that the search for a successor began once the company's business restructuring was sufficiently advanced to allow for a leadership transition.
Lundmark’s tenure was marked by a push to restore competitiveness in 5G radio networks and the stabilization of the company's patent licensing division. The appointment of Hotard signals a shift toward prioritizing growth in data center markets and artificial intelligence.
The company is scheduled to host an event for financial analysts and media today to discuss the leadership change and future outlook.