In a significant leadership transition, Nokia has announced that its CEO, Pekka Lundmark, will step down, making way for Intel’s AI chief, Justin Hotard. The move marks a strategic shift for the Finnish telecom giant as it looks to strengthen its position in artificial intelligence and 5G technology.

Pekka Lundmark, who has led Nokia since 2020, will be stepping down as the company’s CEO. Under his leadership, Nokia underwent a critical restructuring phase, focusing on network infrastructure and expanding its global 5G presence. Lundmark’s departure is seen as part of the company’s broader efforts to accelerate technological transformation and innovation.

Justin Hotard, currently serving as the AI chief at Intel, brings extensive expertise in artificial intelligence, data centers, and cloud computing. His appointment aligns with Nokia’s ambition to leverage AI-driven advancements in telecommunications, positioning the company as a key player in the evolving tech landscape.

The decision to appoint Hotard reflects Nokia’s focus on integrating AI solutions into its core operations, enhancing its competitiveness in the 5G and networking space. As AI plays an increasingly crucial role in telecom infrastructure, Hotard’s leadership could drive innovation and create new revenue streams for the company.

Nokia’s leadership transition signals a pivotal moment in its growth strategy. With Justin Hotard at the helm, the company aims to redefine its approach to AI and network technology, ensuring long-term sustainability and innovation in the rapidly evolving digital economy.

Key Highlights:

• Pekka Lundmark will step down as Nokia’s CEO after leading the company since 2020.
• Intel’s AI chief, Justin Hotard, has been appointed as the new CEO, signaling a strategic shift towards AI and 5G.
• Nokia aims to leverage AI-driven advancements under Hotard’s leadership to enhance competitiveness.
• The transition highlights Nokia’s focus on innovation and long-term sustainability in the telecom industry.