Nokia has announced a significant leadership transition, as CEO Pekka Lundmark will step down from his role on March 31, 2025. Justin Hotard, currently the Executive Vice President and General Manager of Intel’s Data Centre & AI Group, will assume the position on April 1, 2025.

Hotard Brings Over 25 Years of Industry Experience

Justin Hotard brings a wealth of experience, having worked in leading technology firms such as Hewlett Packard Enterprise and NCR Corporation. His expertise in data centres, artificial intelligence, and enterprise technology positions him well to lead Nokia into its next phase of growth.

Lundmark’s Tenure at Nokia: A Period of Transformation and Growth

Since assuming the role of CEO in 2020, Pekka Lundmark has guided Nokia through a transformative period. Under his leadership, the company strengthened its position in 5G, digital technologies, and industrial applications. Despite facing growing industry challenges, Nokia remained at the forefront of technological advancements. Reflecting on his tenure, Lundmark stated, “Leading Nokia has been a privilege. When I returned to Nokia in 2020, I called it a homecoming, and it felt like one. I am proud of the work our brilliant team has done in re-establishing our technology leadership and competitiveness. We have successfully positioned the company for growth in data centres, private wireless, industrial edge, and defence.”

Lundmark to Stay On as an Advisor Until the End of 2025

While stepping down from his executive role, Lundmark will continue to support Nokia as an advisor until the end of 2025, ensuring a seamless transition. He also expressed his desire to move on from executive roles, stating, “This is the right time for me to step back. I have led listed companies for over two decades, and while I do not plan to stop working, I want to contribute in a different capacity, such as a board professional.”