Nokia picks Intel's AI and data centre leader Hotard as new CEO [Yahoo! Finance]
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Source: Yahoo! Finance
Nokia announces a leadership transition Reuters Mon, February 10, 2025 at 7:08 AM GMT+1 2 min read COPENHAGEN (Reuters) - Finnish telecoms company Nokia on Monday said Pekka Lundmark would step down as CEO, and that it has appointed Justin Hotard to take over his role. Hotard, who will take up the position on April 1, is currently the executive vice president and general manager of Data Center & 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. Shares were up 1.6% at 4.7 euros by 0854 GMT on Helsinki's stock exchange, which was up just 0.45%. JPMorga
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