Nokia picks Intel's AI and data centre leader Justin Hotard as new CEO
Nokia on Monday said Pekka Lundmark would step down as CEO, and that it has appointed Justin Hotard to take over his role.
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Hotard, who will take up the position on April 1, is currently the executive vice president and general manager of Data Centre & AI Group at Intel, according to the chipmaker's website.
Telecom gear makers, struggling with lower sales of 5G equipment, have been looking for ways to diversify their markets and break into growing areas such as artificial intelligence.
«He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data centre markets, which are critical areas for Nokia's future growth,» Nokia's Chair Sari Baldauf said in a statement.
Lundmark, who was appointed as Nokia's CEO in 2020, will stay on as an advisor to Hotard until the end of the year, the company said.
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