Who is Justin Hotard, Nokia’s next CEO? 5 things to know about him

Nokia on Monday announced tech industry leader Justin Hotard as its next chief executive after Pekka Lundmark. With more than 25 years of experience in the AI and tech industry, Justin Hotard will join the Finnish telecommunications equipment giant after working as Intel's head of AI and data centres.

Pekka Lundmark has been Nokia's CEO since 2020 and will leave on March 31. Lundmark is stepping down from the leadership role to move “on to the next phase of his career”, Nokia said. As Nokia looks forward to expanding its business in AI and technology, here's all you need to know about its next chief executive.

Who is Justin Hotard? 5 things to know about him

-Born in 1974, Justin Hotard holds more than twenty-five years of experience in the industry and has worked with tech giants like Intel, Santa Clara, etc.

-Justin Hotard, in a video message on Monday, said, "I am excited to get started and look forward to continuing Nokia's transformation journey to maximise its potential for growth and value creation." He also added that he will contribute in company's efforts to incorporate AI in its operation and “establish Nokia as global leader in connectivity in the AI era”.

-Currently, he is the executive vice president and general manager of Data Center & AI Group. He will take over as the new Nokia CEO on April 1.

-Before his role at Intel, he worked with other companies like Hewlett Packard Enterprise and NCR Corporation.

-During his tenure at an Atlanta-based IT firm, NCR Corporation, Hotard had sealed multiple acquisitions and crucial investments in the firm. He had completed a total of five acquisitions equal to a total of $72 million in one year to move the company into markets adjacent to its self-serve solutions.

-Justin Hotard holds an MBA from MIT Sloan School of Management, Cambridge and B.Sc in Electrical Engineering, University of Illinois Urbana-Champaign.

Sari Baldauf, Chair of Nokia's board of directors, expressed that Justin Hotard's expertise in AI and data center markets will be highly critical for Nokia's future growth prospect,

Nokia is eyeing streamlining of its operations and expand business to compensate lower growth from mobile operators. The company is muling over the furture of its mobile network business, and may consider selling some or all of the division, spinning it off, or combining it with a rival, reported Bloomberg citing sources.