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Vice -President JD Vance told the Paris World leaders that AI should be “free from ideological bias” and that American tech would not be a censorship tool. (Credit: Reuters)
- Nokia CEO Pekka Lundmark resigns and replaces Justin Hotard, the Finnish Telecoms Company said on Monday.
- According to the Chipmaker website, Hotard is currently the executive and CEO of Intel Data Center and AI Group.
- Nokia’s shares have increased by 27.85% last year, but in June 2000, it has decreased by more than 90% since its peak.
The Nokia Finn telecommunications company said on Monday that Pekka Lundmark would resign as CEO and appointed Justin Hotard to take over.
According to the Chipmaker website, Hotard, who is involved in the post on April 1, is currently the executive and CEO of the Data Center & AI Group.
Manufacturers of telecommunication equipment, who are struggling with lowering 5G equipment, have sought to diversify their market and break into growing areas such as artificial intelligence.
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“He has a strong experience with accelerating technology companies and, along with enormous expertise in the AI and Data Center markets, which are critical areas for the future growth of Nokia,” said Nokia President Sara Baldauf.
Shares increased by 1.6% at EUR 4.7 by 0854 GMT on the Helsinki stock exchange, which increased by only 0.45%.
JPMorgan analysts called the CEO’s transition as a surprise by claiming that Lundmark was successful in the “ship steadinging.”
Nokia’s current president and CEO, Pekka Lundmark, president of Nokia Board, Sara Baldauf and Nokia’s next president and CEO, Justin Hotard, will be attended by a press conference at FI Espoo. (Markku Ulander/Via Reuters/Reuters)
“Given that a new CEO has already been appointed, it seems that this transition has been in the work for some time. With the new CEO’s data center and the background of the new CEO, it is clear where Nokia wants to focus on.” Comment.
This view was reflected by Indere analysts, who consider the change a strategic shift towards the Nokia Network Infrastructure Unit, where data centers and AI investments promote new growth opportunities.
Last year, Nokia bought an American optical network equipment, Infinera, a $ 2.3 billion shop, to get a billion dollar investment in data centers to satisfy the growth of artificial intelligence.
Lundmark, who was appointed CEO of Nokia in 2020, will remain as an advisor to Hotard by the end of the year.
In September, Nokia rejected media reports, saying the company was looking for a new CEO.
“The leading transition plan began when Pekka told the board of directors that he wanted to consider steps on executive roles when the transfer of the business was in a more advanced phase, and when the proper offspring was identified,” Baldauf, Baldauf said.
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Nokia’s shares have increased by 27.85% last year, but in June 2000, it has decreased by more than 90% since its peak.
An infrastructure business that increasingly integrates AI technologies, focuses on the construction and maintenance of communication systems, including data centers, servers and routers.
The unit of mobile networks focuses on technologies and services that allow mobile communication, including cellular and 5G technologies.
