Nokia picks Intel’s AI and data center leader Justin Hotard as new CEO

Finnish telecoms company Nokia on Monday said Pekka Lundmark would step down as CEO, and that it has appointed Justin Hotard to take over his role.

Hotard, who will take up the position on April 1, is currently the executive vice president and general manager of Data Center & AI Group at Intel, according to the chipmaker’s website.

Telecom gear makers, struggling with lower sales of 5G equipment, have been looking for ways to diversify their markets and break into growing areas such as artificial intelligence.