Nokia CEO Pekka Lundmark To Step Down In March 2025; Appoints Intel Executive Justin Hotard As CEO

(RTTNews) - Nokia's (NOK) President and Chief Executive Officer, Pekka Lundmark, will step down on March 31, 2025. The company has appointed Justin Hotard as the next President and Chief Executive Officer, who will start in his new role on April 1, 2025. Lundmark, who has been leading Nokia since 2020, will continue as an advisor to the new Chief executive officer until the end of 2025, the Finnish network company said in a statement on Monday.

Hotard brings over 25 years of experience with global technology companies. Currently, he leads the Data Center & AI Group at Intel. Before this role, he held several leadership positions at prominent technology companies, including Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia's headquarters in Espoo, Finland.