Nokia Appoints Justin Hotard as New CEO, Succeeding Pekka Lundmark in Strategic Leadership Shift

Nokia Appoints Justin Hotard as New CEO, Succeeding Pekka Lundmark in Strategic Leadership Shift

(IN BRIEF) Nokia has announced a leadership change with Justin Hotard set to succeed Pekka Lundmark as the new President and CEO, starting April 1, 2025. Hotard, with over 25 years of experience in technology, is expected to drive Nokia’s continued growth in critical areas such as AI and data centers. Lundmark, who led the company since 2020, will step down after successfully guiding Nokia through a period of transformation, particularly in the 5G and cloud-native sectors. He will remain as an advisor to Hotard through the end of the year. The change underscores Nokia’s commitment to advancing its leadership in connectivity and innovation.

(PRESS RELEASE) ESPOO, 10-Feb-2025 — /EuropaWire/ — Nokia has revealed a significant leadership change, with Justin Hotard appointed as the new President and CEO, following the decision of current CEO Pekka Lundmark to step down. Hotard, who will assume his new role on April 1, 2025, brings over 25 years of experience with global technology companies, having led major teams at Intel, Hewlett Packard Enterprise, and NCR Corporation. He will be based at Nokia’s headquarters in Espoo, Finland.

The announcement marks the conclusion of Lundmark’s tenure, which began in 2020, and reflects a strategic moment for the company. Hotard’s appointment is seen as a key step in continuing Nokia’s transformation into a leader in emerging technologies. “I am excited to lead Nokia and build upon the company’s strong legacy of connectivity and innovation,” said Hotard. “The network infrastructure we provide plays a vital role in society, powering generational shifts in technology, including the ongoing advancements in AI.”

Sari Baldauf, Chairman of Nokia’s Board of Directors, expressed her enthusiasm for Hotard’s appointment, citing his proven success in driving growth and leadership in critical areas such as AI and data centers. “Justin’s experience and strategic insight make him the ideal leader to guide Nokia forward,” Baldauf remarked.

Pekka Lundmark, who has overseen Nokia’s recovery and growth in areas like 5G and cloud-native core networks, will remain with the company until March 31, 2025, after which he will transition to advisory roles. “Leading Nokia has been a privilege, and I am proud of our progress,” said Lundmark. “Now is the right time for me to step back from executive roles and allow Justin to lead the next phase of growth.”

The leadership change is set to further strengthen Nokia’s focus on advancing its position in digital services, with plans to continue its strong push toward AI-driven innovation and supporting the global digital ecosystem.

An official media event will take place today, with journalists and analysts invited to join either via webcast or in person at Nokia’s Executive Experience Center in Espoo.

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SOURCE: Nokia