Nokia picks Intel's AI and data centre leader Hotard as new CEO By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 10 2025
0mins
Source: Investing.com
CEO Transition at Nokia: Pekka Lundmark is stepping down as CEO of Nokia, with Justin Hotard from Intel set to take over on April 1. This change reflects a strategic shift towards AI and data center markets, which are seen as critical for Nokia's future growth.
Market Response and Future Focus: Following the announcement, Nokia shares rose by 1.6%. Analysts view the leadership change as a move to enhance Nokia's Network Infrastructure unit, particularly in light of recent investments in AI and data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
