Nokia has announced tech industry leader Justin Hotard as its next chief executive after Pekka Lundmark. With more than 25 years of experience in AI and tech industry, Justin Hotard will come join the Finnish telecommunications equipment giant after working as the head of AI and data centres at Intel.
Pekka Lundmark has served as Nokia’s CEO since 2020 and will leave his position on March 31. Lundmark is stepping down from the leadership role to move “on to the next phase of his career”, Nokia said. As Nokia looks forward to expand its business in the field of AI and technology, here’s all you need to know about its next chief executive.
Who is Justin Hotard?
-Born in 1974, Justin Hotard holds more than twenty five years of experience in the industry and has worked with tech giants like Intel, Santa Clara, etc.
-At present he is the Executive Vice President and General Manager, Data Center & AI Group. He will take over as new Nokia CEO on April 1.
-Prior to his role at Intel, he has worked with other companies like Hewlett Packard Enterprise and NCR Corporation.
-“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,” said Sari Baldauf, Chair of Nokia’s board of directors.
-Justin Hotard holds an MBA from MIT Sloan School of Management, Cambridge and B.Sc in Electrical Engineering, University of Illinois Urbana-Champaign.
The company has been looking at ways to streamline its operations and to build out businesses to make up for lower growth from mobile operators. Nokia had discussions with advisers about potential options for the mobile networks business, including selling some or all of the division, spinning it off, or combining it with a rival, people familiar with the matter said last year.
The business drew preliminary interest from suitors including Samsung Electronics Co., which is looking for scale in radio access networks that connect mobile phones to telecom infrastructure, the people said.