Nokia picks Intel's AI and data center leader Justin Hotard as new CEO [FOX Business Network]
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Source: FOX Business Network
Nokia CEO Pekka Lundmark will step down and be replaced by Justin Hotard, the Finnish telecoms company said on Monday. Hotard is currently the executive vice president and general manager of Data Center & AI Group at Intel, according to the chipmaker's website. Nokia shares are up 27.85% over the past year, but are down more than 90% since peaking in June 2000. 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 A
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