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

Finland's 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. "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," Nokia's Chair Sari Baldauf said in a statement.