Finnish tech big Nokia’s President and Chief Government Officer (CEO) Pekka Lundmark is stepping down, the corporate introduced on Monday, February 10, 2025.
A photograph taken on October 19, 2023 exhibits the headquarters of Finnish telecom firm Nokia in Espoo, Finland.(Jussi Nukari/Lehtikuva/AFP)
Lundmark had informed the Board that he want to transfer on from government roles when the repositioning of the enterprise was in a extra superior stage, and when the fitting successor had been recognized, mentioned Sari Baldauf, Chair of Nokia’s Board of Administrators.
Additionally Learn: T-Cell and Starlink launch beta satellite tv for pc web in US for testing | See full particulars
Consequently, Lundmark will step down on 31 March 2025 and can proceed as an advisor to his successor till the tip of the 12 months.
The following President CEO will likely be Intel’s Justin Hotard and he’ll begin his new position on April 1, 2025.
Pekka joined Nokia at a troublesome time in its historical past. Underneath his tenure, Nokia has since established its place in 5G radio networks and has additionally constructed a powerful place in cloud-native core networks.
Nokia has a major presence in tech associated to knowledge facilities, personal wi-fi and industrial purposes, in addition to protection.
On the identical time, Nokia has additionally constructed sturdy foundations in new progress areas, refreshed the corporate’s model and tradition, reworked its working mannequin and rebalanced its portfolio.
Additionally Learn: Why YouTuber Asmita Patel, generally known as ‘she-wolf of stock market’, has been banned by SEBI?
In the meantime, Hotard comes with greater than 25 years of expertise with world tech firms. He at the moment leads the Information Middle and Synthetic Intelligence (AI) Group at Intel.
“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,” said Sari.
Before Intel, Hotard had worked with Hewlett Packard Enterprise in leadership positions such as Executive Vice President and General Manager of High Performance Computing, AI & Labs, as well as President and Managing Director of Japan and China.
He also worked at NCR Corporation as President and General Manager of the Global Small Business Cloud Platform. Before this, he had a stint at Symbol Technologies which has now been acquired by Motorola Inc., as Director of Product Management and Senior Manager of Corporate Development.
Also Read: Donald Trump working to dismantle USAID, an agency his wife Melania & daughter Ivanka promoted
He has a Bachelor of Science in Electrical Engineering from the University of Illinois Urbana-Champaign, and a Master of Business Administration (MBA) from the MIT Sloan School of Management.
“Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI,” Hotard said. “I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation.”