Justin Hotard from Intel Appointed as New CEO of Nokia

Nokia, the Finnish technology giant, has announced a significant leadership change as it prepares to adapt to new market opportunities. Justin Hotard, who currently heads the data center and artificial intelligence (AI) divisions at Intel, will take over as CEO effective April 1, 2025. This transition follows the decision of Pekka Lundmark, the outgoing president and CEO, to step down by the end of March.

Justin Hotard brings a wealth of experience from his tenure at Intel, where he has played a pivotal role in the advancement of data center technologies and AI solutions. Prior to his time at Intel, Hotard held leadership positions at prominent tech companies, including Hewlett Packard and NCR Corporation. Nokia's chairwoman, Sari Baldauf, emphasized Hotard's proven track record in driving growth and his extensive knowledge in areas critical to Nokia's future, particularly in AI and data centers.

This leadership change signals Nokia's commitment to broadening its business horizon. The company has indicated an intention to diversify beyond its traditional telecommunications market, which has recently faced intense competition and fluctuating demand. The Wall Street Journal reports that Nokia aims to explore new growth avenues, particularly in high-potential sectors like data centers and AI.

In a strategic move last year, Nokia acquired the U.S.-based company Infinera for $2.3 billion, a deal designed to enhance its capabilities in optical semiconductors and networking equipment. This acquisition is expected to facilitate Nokia's entry into the data center market and strengthen its position in the U.S., where it generates over a quarter of its total revenue and has experienced recent growth, especially in the networking infrastructure segment.

Hotard's appointment comes as part of a broader strategic realignment initiated by Lundmark, who has been at the helm of Nokia since 2020. Lundmark had previously indicated his intention to step down once the company's restructuring efforts progressed and a suitable successor was identified. With Hotard's selection, both conditions have been met, paving the way for this leadership transition.

Looking ahead, Hotard views Nokia as a leading global entity in connectivity with a robust foundation for growth. He highlighted the critical role of networks as the backbone of society and businesses, especially amid the ongoing technological transformation driven by AI. Hotard expressed enthusiasm for commencing his new role and continuing Nokia's transformation process to maximize its growth potential.