Nokia has announced a leadership transition, with Justin Hotard appointed as the next President and CEO, succeeding Pekka Lundmark, effective April 1, 2025. Hotard, currently leading Intel’s Data Center & AI Group, brings over 25 years of experience in technology leadership across companies like Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia’s headquarters in Espoo, Finland.
Sari Baldauf, Chair of Nokia’s Board of Directors, emphasized Hotard’s expertise in AI and data centers as key assets for Nokia’s future growth. Lundmark, who has led Nokia since 2020, will step down on March 31, 2025, after steering the company through a period of transformation, strengthening its 5G leadership and expanding into cloud-native networks. He will serve as an advisor to Hotard until the end of the year to ensure a smooth transition.
- Leadership Change: Justin Hotard succeeds Pekka Lundmark as Nokia’s President and CEO.
- Effective Date: Hotard takes on the role starting April 1, 2025.
- Industry Experience: Hotard has held leadership roles at Intel, Hewlett Packard Enterprise, and NCR Corporation.
- Strategic Focus: Nokia aims to grow in AI, data centers, private wireless, and industrial edge.
- Lundmark’s Legacy: Strengthened Nokia’s 5G leadership, cloud-native core networks, and patent licensing business.
- Transition Period: Lundmark will advise Hotard until the end of 2025.
Sari Baldauf, Chair of Nokia’s Board, stated: “Justin has demonstrated the strategic insight, vision, and leadership required for a CEO of Nokia. His expertise in AI and data center markets will be critical for Nokia’s future growth.”
Justin Hotard, CV
Born: 1974
Nationality: US national
Experience:
- Intel, Santa Clara, CA, 2024–present: Executive Vice President and General Manager, Data Center & AI Group
- Hewlett Packard Enterprise, Houston, TX / Tokyo, Japan, 2015–2024: various leadership positions including:
- Executive Vice President and General Manager, High Performance Computing, AI & Labs
- President and Managing Director, Japan and China
- NCR Corporation, Duluth, GA, 2007–2014: various leadership positions including: President and General Manager, Global Small Business Cloud Platform
- Symbol Technologies (acquired by Motorola, Inc), Holtsville, NY, 2003–2007: Director, Product Management and Senior Manager, Corporate Development
- Motorola, Inc, Arlington, IL, 1996–2000: Senior Systems Engineer
Education:
- Master of Business Administration, MIT Sloan School of Management, Cambridge, MA, 2002
- Bachelor of Science in Electrical Engineering, University of Illinois Urbana-Champaign, Urbana, IL, 1997
- In August 20220, Pekka Lundmark took over as Nokia’s President and CEO, replacing Rajeev Suri who had served as CEO since 2014 and as CEO of Nokia Siemens Networks since 2009. Suri joined the company in 1995. Lundmark previously was President and CEO of Fortum, a leading energy company based in Espoo, Finland,. Previously, he served as President and CEO of Konecranes, a global material-handling technology company, and from 1990-2000 held multiple executive positions at Nokia, including Vice President of Strategy and Business Development at Nokia Networks. Lundmark holds a Master of Science degree from Helsinki University of Technology. He will be based in Espoo, Finland.
- In December 2024, Intel announced the immediate and unexpected departure of Pat Gelsinger as CEO of the company and from its board of directors. Intel named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group (CCG), Data Center and AI Group (DCAI) and Network and Edge Group (NEX).