Nokia chooses the KI and data center manager HOTARD from Intel as the new CEO

Copenhagen (Reuters) – Finland’s Nokia said on Monday that Pekka Lundmark would resign as CEO, and Justin Hotard had appointed his role.

Hotard, who will take the position on April 1, is currently an Executive Vice President and General Manager of Data Center & Ai Group at Intel.

Telecommunications equipment manufacturers who have to deal with lower sale of 5G devices have searched for ways to diversify their markets and break into growing areas such as artificial intelligence.

“He has a strong track record in acceleration of growth in technology companies as well as great expertise in AI and data center markets, which are critical areas for the future growth of Nokia,” said Nokia Chairman Sari Baldauf in a statement.

Lundmark, which was appointed CEO of Nokia in 2020, will remain as a consultant of Hotard by the end of the year, said the company.

In September, Nokia declined media reports that the company had been looking for a new managing director.

“The planning for this management crossing was initiated when Pekka looked at the board that he would like to consider to take over from executive roles if the repositioning of the business was in a more advanced level and was identified as the right successor,” said.

(Reporting by Stine Jacobsen, editing of Louise Breusch Rasmussen and Varun HK)