ESPOO, Finland — Nokia Corporation has appointed Justin Hotard as its new President and Chief Executive Officer, effective April 1, 2025, succeeding Pekka Lundmark. This leadership transition marks a strategic shift for the Finnish telecommunications giant, emphasizing growth in artificial intelligence (AI) and digital infrastructure.
Hotard brings over 25 years of experience in the technology sector, having held senior roles at Intel, Hewlett Packard Enterprise (HPE), NCR Corporation, Symbol Technologies, and Motorola. At Intel, he led the Data Center and AI Group, overseeing significant expansions in AI and data center businesses. During his tenure at HPE, he delivered the world’s first exascale supercomputer for the U.S. Department of Energy and positioned the company at the forefront of AI, quantum computing, and sustainability research.
Sari Baldauf, Chair of Nokia’s Board of Directors, expressed confidence in Hotard’s appointment, stating, “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.”
Hotard’s appointment comes as Nokia seeks to diversify its portfolio amid challenges in the 5G equipment market. The company aims to capitalize on emerging opportunities in AI and digital infrastructure to drive future growth.
Outgoing CEO Pekka Lundmark, who led Nokia since 2020, will remain with the company as an advisor until the end of 2025 to ensure a smooth transition. Under Lundmark’s leadership, Nokia re-established its technology leadership in 5G radio networks and built a strong position in cloud-native core networks. The company also secured the longevity of its patent licensing business and laid strong foundations in new growth areas.
Hotard, who holds a Bachelor of Science in Electrical Engineering from the University of Illinois Urbana-Champaign and an MBA from the MIT Sloan School of Management, will be based at Nokia’s headquarters in Espoo, Finland.
In a statement, Hotard said, “I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI. I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation.”
Nokia’s strategic focus on AI and digital infrastructure aligns with industry trends, as telecom companies seek to leverage emerging technologies to enhance network efficiency and user experiences. Hotard’s extensive background in these areas positions him to drive Nokia’s growth in the evolving digital landscape.
