Intel loses another top exec as Nokia poaches AI and data center chief as new CEO
Posted by:
David Wilson
Nokia President and CEO, Pekka Lundmark, will be resigning after a 4.5-year tenure, to be succeeded by Justin Hotard, the current Intel Data Center & AI executive. Hotard, known for his growth acceleration expertise in technology companies, will assume the leadership role on April 1, 2025. Lundmark will support the transition by advising Hotard until the year’s end. The announcement led to a 1.6% rise in shares for Nokia on the Helsinki stock exchange. Lundmark expressed his intention to retire from executive roles to engage as a board professional. Hotard, acclaimed for his work in AI and data centers, is poised to lead Nokia’s connectivity legacy from the company’s headquarters in Espoo, Finland. This move signifies Nokia’s strategic alignment with disruptive technologies like AI shaping the future.
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