Nokia earlierAnnounceChief Executive Officer since 2020Pekka LundmarkWill step down and will be replaced by Intel Executive Vice President and General Manager of Data Center and AI SolutionsJustin HotardBecome the new CEO and President.
Justin Hotard is expected to officially become Nokia's new CEO and president from April 4 this year, while Pekka Lundmark will subsequently become an advisor and continue in this position until the end of the year.
Sari Baldauf, Chairman of the Nokia Board of Directors, said Pekka Lundmark has played a key role in accelerating Nokia's development and has led Nokia to continued growth with his experience in the artificial intelligence and data center markets.
In addition, Sari Baldauf also pointed out that under the leadership of Pekka Lundmark, Nokia has become a market leader in the development of 5G wireless network technology, and has also established a firm foothold in cloud-native core networks and network infrastructure.
Earlier, Nokia announced its financial results for the fourth quarter and full year of fiscal year 2024. Net sales for the previous quarter reached €2024 billion, a 59.83% year-over-year increase, while net sales for the full year of fiscal year 10 reached €2024 billion, a 192.20% decrease year-over-year. However, profit for the previous quarter reached €9 million, a 9.17% increase, and profit for the full year of fiscal year 72 reached €2024 billion, a 19.99% increase year-over-year.
Nokia remains optimistic about the development of its market layout in fiscal year 2025, and expects that the demand for network infrastructure improvements will grow in the second half of 2025. At the same time, with the increasing demand for 5G network expansion and the more significant demand for edge computing deployment within enterprises, cloud and network services are also expected to grow.
