Espoo, Finland, February 10, 2025 — In a strategic move poised to reshape the telecommunications landscape, Nokia has announced the appointment of Justin Hotard as its new President and Chief Executive Officer, effective April 1, 2025. Hotard, currently serving as Executive Vice President and General Manager of Intel’s Data Center and AI Group, will succeed Pekka Lundmark, who has led Nokia since August 2020.
Leadership Transition at Nokia
The decision to appoint Hotard reflects Nokia’s commitment to strengthening its position in the rapidly evolving fields of artificial intelligence (AI) and data center technologies. Sari Baldauf, Chair of Nokia’s Board of Directors, emphasized Hotard’s extensive experience, stating, “Justin 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.”
Pekka Lundmark, who has been at the helm of Nokia for nearly five years, will remain with the company as an advisor until the end of the year to ensure a smooth transition. Under Lundmark’s leadership, Nokia underwent significant restructuring, focusing on network infrastructure and 5G technology. His tenure is marked by efforts to revitalize the company’s competitive edge in the global telecommunications market.
Justin Hotard’s Professional Journey
Justin Hotard joined Intel in February 2024, bringing over two decades of experience in the technology sector. At Intel, he led the Data Center and AI Group, overseeing the development of advanced computing solutions and AI initiatives. Before his tenure at Intel, Hotard held a significant role at Hewlett Packard Enterprise (HPE) as Executive Vice President and General Manager of High-Performance Computing, AI, and Labs. In this capacity, he was responsible for delivering AI capabilities to customers addressing some of the world’s most complex problems through data-intensive workloads.
Hotard’s educational background includes a Bachelor of Science in Electrical Engineering from the University of Illinois Urbana-Champaign, obtained in 1997.
His extensive experience in driving transformation and growth in computing and data center businesses positions him as a visionary leader capable of steering Nokia into new growth areas.
Nokia’s Strategic Focus on AI and Data Centers
Nokia’s decision to appoint an executive with a strong background in AI and data centers underscores the company’s strategic pivot towards these burgeoning sectors. The telecommunications industry is increasingly recognizing the importance of AI in optimizing network performance, enhancing customer experiences, and driving operational efficiencies. Data centers play a crucial role in supporting the infrastructure required for these advanced technologies.
By bringing Hotard on board, Nokia aims to leverage his expertise to expand its footprint in the AI and data center markets. This move aligns with the company’s broader strategy to diversify its offerings beyond traditional telecommunications equipment and capitalize on emerging opportunities in the digital economy.
Industry Reactions and Market Implications
The announcement of Hotard’s appointment has been met with positive reactions from industry analysts and investors. Nokia’s shares experienced a 1.6% increase following the news, reflecting market confidence in the leadership transition.
At Intel, Karin Eibschitz-Segal will temporarily assume Hotard’s responsibilities as the company searches for a permanent replacement. Intel expressed gratitude for Hotard’s contributions, stating, “We thank Justin for his leadership and wish him well in his future endeavors. Our Data Center and AI team remains committed to delivering innovative solutions for our customers.”
The Road Ahead for Nokia
As Justin Hotard prepares to take the helm at Nokia, he faces the challenge of navigating the company through a dynamic and competitive technological landscape. His mandate will involve accelerating Nokia’s growth in AI and data center markets while sustaining its leadership in telecommunications infrastructure.
Hotard’s appointment signals a forward-looking approach for Nokia, emphasizing innovation and adaptability. With his extensive experience and proven track record, stakeholders are optimistic about Nokia’s trajectory under his leadership.
References
Investopedia. (2025). Nokia Names Intel’s AI, Data Center Head as New CEO. Retrieved from https://www.investopedia.com/nokia-names-intel-ai-data-center-head-as-new-ceo-8788781
Barron’s. (2025). Intel Loses AI Chief to Nokia. The Chip Stock Is Rising. Retrieved from https://www.barrons.com/articles/intel-stock-price-ai-nokia-ac3e45d4
Reuters. (2025). Nokia picks Intel’s AI and data centre leader Hotard as new CEO. Retrieved from https://www.reuters.com/business/media-telecom/nokia-ceo-steps-down-2025-02-10/Intel
Newsroom. (2024). Justin Hotard to Lead Intel’s Data Center and AI Group. Retrieved from https://www.intc.com/news-events/press-releases/detail/1665/justin-hotard-to-lead-intels-data-center-and-ai-group