Nokia changes CEO; Intel data center chief takes over

Nokia has announced that CEO Pekka Lundmark will step down. He took up the position in 2020. He will be replaced by Justin Hotard, who is currently Intel’s Chief Data Center Officer and has previously held executive positions at technology companies such as Hewlett Packard Enterprise and NCR Corporation.

“I am honored to have the opportunity to lead Nokia, a global leader in connectivity with a unique technology heritage. Networks are the backbone that drives society and businesses and enables generational shifts in technology, such as the one we are currently experiencing in AI,” said Justin Hotard in a statement.

Lundmark will step down on March 31, 2025 and continue as an advisor to the new CEO for the remainder of the year. Hotard will take office on April 1, 2025. He will be based at Nokia headquarters in Espoo, Finland.