Nokia changes CEO

Nokia to change the CEO. Pekka Lundmark The USA has been appointed to replace the US Justin Hotard From the beginning of April.

Born in 1974, Hotard has over 25 years of experience in leadership positions for international technology companies, ”Nokia says in a news release.

Hotard is currently leading Intel’s data center and artificial intelligence business. Prior to this, he has been in leadership positions in technology companies such as Hewlett Packard Enterprise and NCR Corporation. His position will be Espoo.

“Justin has shown in his previous duties and through the selection process of the strategic view required by Nokia’s CEO, strong leadership, and the ability to value value for customers and shareholders,” said Sari BaldaufChairman of the Nokia Board.

Pekka Lundmark was appointed CEO of Nokia in 2020. He will move aside at the end of March, but will continue on the company’s payroll as advising until the end of the year. Lundmark turns 62 in December.

According to Baldauf, the CEO will be changed at the initiative of Lundmark.

“We started preparation for this change after Pekka said that he would consider moving out of operational management positions at the time Nokia’s business has been positioned in the next growth phase and a suitable follower has been found. Now both of these terms and conditions have been realized and has announced that he will move aside for Nokia, ”Baldauf says in the release.

Lundmarkin When starting, Nokia was in a very challenging situation. The company had come to an end in 5G technology and had to change the development of a rapid pace. In a tight competitive environment, the company’s success has varied in recent years.

However, last year ended well with great success. Nokia’s result clearly exceeded investors’ expectations.

Prior to Nokia, Lundmark was Fortum, an energy company and until 2015, the CEO of the crane company Konecranes.

“I have led listed companies for more than two decades, and even though I’m not going to quit working, I want to move on to a new stage in my career, such as board work. Justin is a great choice for Nokia’s leadership and we will be working closely to ensure a smooth transition, ”said Pekka Lundmark.

The news is updated.