Nokia has announced Justin Hotard as its new Chief Executive Officer, marking a pivotal leadership change as the company diversifies beyond 5G. Hotard, currently serving as Executive Vice President and General Manager of Intel’s Data Center & AI Group, will officially step into the role on April 1, succeeding Pekka Lundmark.
Lundmark, who has led Nokia since 2020, will stay on as an advisor until the end of the year to ensure a smooth transition.
Why the Change?
The leadership shift comes at a time when the telecom equipment industry is grappling with declining demand for 5G infrastructure. Nokia, like its competitors, is increasingly focusing on artificial intelligence, cloud computing, and data center technologies as key growth areas.
“He 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,” said Nokia Chair Sari Baldauf.
A Strategic Move Toward AI and Advanced Technologies
Justin Hotard brings over two decades of experience in the tech industry, including leadership roles at Intel, Hewlett Packard Enterprise, and NCR Corporation. His expertise in AI and high-performance computing positions Nokia to strengthen its portfolio in these sectors.
With Hotard at the helm, Nokia aims to:
- Accelerate AI-powered network solutions.
- Expand its footprint in the data center market.
- Support digital transformation initiatives for businesses and governments.
Lundmark’s Legacy and Challenges Ahead
Under Lundmark’s leadership, Nokia underwent significant restructuring to regain competitiveness. Despite progress, the company continues to face challenges in a slowing telecom market.
Last month, Nokia projected its 2025 operating profit to range between €1.9 billion and €2.4 billion, down from €2.62 billion in 2024, which had benefited from €700 million in one-time gains.
Lundmark described the forecast as a “strong improvement” when adjusted for the one-time factors, signaling optimism about Nokia’s strategic direction.
Hotard’s Background
Hotard, 50, holds an MBA from the MIT Sloan School of Management and a Bachelor’s in Electrical Engineering from the University of Illinois Urbana-Champaign. His career highlights include:
- Leading Intel’s Data Center & AI Group.
- Overseeing AI and High-Performance Computing at Hewlett Packard Enterprise.
- Managing operations in Japan and China as President of Hewlett Packard Enterprise.
Looking Ahead
Hotard’s appointment signals Nokia’s intent to leverage AI and advanced computing as it navigates an evolving market. As Nokia pivots toward innovation and diversification, the leadership transition could be a catalyst for future growth.