Nokia has shared that it has appointed a brand new chief govt officer (CEO), as the corporate makes an attempt to enterprise extra into the synthetic intelligence market.
Finnish telecommunications large Nokia revealed that it has chosen to nominate Justin Hotard as its new chief govt officer (CEO), to take over from Pekka Lundmark, who has been main the corporate since 2020.
Lundmark will probably be stepping down as CEO from 31 March this yr, with Hotard scheduled to begin as Nokia CEO from 1 April. Nonetheless, Nokia has shared that Lundmark will nonetheless stay on the firm to advise Hotard till the top of 2025.
In the mean time, Hotard is the chief vp and normal supervisor of Intel’s Knowledge Centre and AI Group.
He was beforehand at Hewlett Packard Enterprise for a number of years, holding quite a lot of roles similar to senior vp, Company Transformation and company senior vp & president of HPE Japan.
This transfer comes as telecom community gear producers are coping with falling gross sales of 5G gear. As such, a number of telecom firms have been exploring methods to enterprise into new markets similar to synthetic intelligence and diversify their companies within the course of.
Sari Baldauf, chair of Nokia’s board of administrators, mentioned in a press launch on the corporate’s web site: “I’m delighted to welcome Justin to Nokia. He has a powerful observe document of accelerating progress in expertise firms together with huge experience in AI and information heart markets, that are essential areas for Nokia’s future progress.
“In his earlier positions, and all through the choice course of, he has demonstrated the strategic perception, imaginative and prescient, management and worth creation mindset required for a CEO of Nokia.”
Justin Hotard additionally mentioned within the press launch: “I’m honored by the chance to guide Nokia, a worldwide chief in connectivity with a novel heritage in expertise. Networks are the spine that energy society and companies, and allow generational expertise shifts just like the one we’re at present experiencing in AI.
“I’m excited to get began and look ahead to persevering with Nokia’s transformation journey to maximise its potential for progress and worth creation.”
Present president and CEO of Nokia, Pekka Lundmark, additionally mentioned: “Main Nokia has been a privilege. Once I returned to Nokia in 2020, I known as it a homecoming, and it actually has felt like one. I’m happy with the work our good crew has completed in re-establishing our expertise management and competitiveness, and positioning the corporate for progress in information facilities, personal wi-fi and industrial edge, and defence.
“That is the precise time for me to maneuver on. I’ve led listed firms for greater than twenty years and though I don’t plan to cease working, I need to transfer on from govt roles to work in a unique capability, similar to a board skilled. Justin is a superb alternative for Nokia and I look ahead to working with him on a clean transition.”
Nokia leans closely into community expertise investments
Nokia has made a marked transfer away from cell phone manufacturing in recent times, whereas focusing extra on solidifying its place in telecommunications infrastructure, particularly 5G networks. The corporate bought its cell phone enterprise to Microsoft again in 2014, which included the Lumia and Asha manufacturers, in addition to Nokia’s design crew.
It has additionally ramped up its community expertise investments, whereas focusing extra on software-defined networking and cloud providers and attempting to combine synthetic intelligence extra into its providers and community infrastructure.
These strikes have gone a good distance in serving to Nokia be seen extra as a B2B expertise supplier, fairly than a client electronics firm. To additional cement this transfer, Nokia has up to date its branding and emblem as effectively.