Nokia Announces Leadership Change as Pekka Lundmark Steps Down

Justin Hotard to Succeed Lundmark as CEO, Signaling a Strategic Shift Toward AI and Data Center Growth

Nokia has announced a major leadership transition, with Pekka Lundmark stepping down as CEO and Justin Hotard set to take over the role on April 1, 2025. Hotard, currently serving as Executive Vice President and General Manager of the Data Center & AI Group at Intel, brings extensive experience in artificial intelligence and data center technologies—key areas for Nokia’s future expansion.

As global demand for 5G technology declines, telecom equipment manufacturers, including Nokia, have been exploring new growth opportunities in emerging technologies. Nokia’s Chair, Sari Baldauf, emphasized Hotard’s strong track record in driving innovation and growth within technology firms. His expertise in AI and data center markets aligns with Nokia’s strategic ambitions as the company pivots toward new frontiers in telecommunications and digital infrastructure.

Lundmark, who has led Nokia since 2020, will remain with the company in an advisory role until the end of the year to ensure a smooth transition. His tenure was marked by significant efforts to reposition Nokia within the competitive telecom landscape, making key investments in network infrastructure and technology modernization.

Speculation about a potential leadership change had surfaced in September, though Nokia initially dismissed those reports. However, Baldauf revealed that discussions about the transition began when Lundmark indicated his intention to step away from executive roles once the company’s transformation efforts were well underway and a suitable successor had been identified.

Hotard’s appointment signals a strategic evolution for Nokia as it navigates a shifting telecom landscape, with AI-driven solutions and data center innovations set to play a crucial role in the company’s future growth.