Nokia has named Justin Hotard as its new CEO, succeeding Pekka Lundmark, who will step down from the position, the corporate introduced on Monday.
Hotard, presently Government Vice President and Basic Supervisor of Intel’s Knowledge Middle & AI Group, will assume the place on April 1. His appointment comes as telecom tools makers, together with Nokia, search to diversify past 5G amid slowing community tools gross sales and elevated concentrate on synthetic intelligence.
“He has a robust observe report of accelerating development in expertise corporations together with huge experience in AI and knowledge heart markets, that are crucial areas for Nokia’s future development,” Nokia Chair Sari Baldauf mentioned in an announcement.
Lundmark, who took over as CEO in 2020, will stay as an advisor to Hotard till the top of the yr. In September, Nokia had denied experiences suggesting it was trying to find a brand new CEO.
“The planning for this management transition was initiated when Pekka indicated to the Board that he want to contemplate transferring on from government roles when the repositioning of the enterprise was in a extra superior stage, and when the best successor had been recognized,” Baldauf added.
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