Intel suffers another blow after C-level staffer leaves to run Nokia

Intel has suffered another blow after its CEO of Datacenter and AI announced his departure from the company and his adoption as the CEO and president of Nokia.

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Justin Hotard took to his LinkedIn account to announce his department from the lead role at Intel's Datacenter and AI division, where Hotard was positioned for just over a year. Hotard thanked the team at Intel for their work in pushing and stabilizing the Datacenter and AI Business over the time he was at the company. Notably, Hotard was selected to join Intel in early 2024 after Sandra Rivera, Intel's former CEO of Datacenter and AI, stepped down to lead the Intel's Altera FPGA business.

As for Nokia, the company announced the transition of Hotard in a press release, stating that Hotard has more than 25 years worth of experience in the tech space, and that he will be taking on the role of President and Chief Executive Officer at Nokia. Hotard will begin his role at the company on April 1, 2025.

"I am delighted to welcome Justin to Nokia. He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia's future growth. In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia," said Sari Baldauf, Chair of Nokia's Board of Directors

Nokia's current President and CEO, Pekka Lundmark, has been at the company since 2020 and, according to the press release, decided to step down from his position and "move on to the next phase of his career." Lundmark is scheduled to step down from his position on March 31, 2025, and will continue as an advisor to Hotard until the end of the year.

"I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI. I am excited to get started and look forward to continuing Nokia's transformation journey to maximize its potential for growth and value creation," said Justin Hotard

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