Vice-President JD Vance told the world leaders in Paris that AI should be “free from ideological prejudices” and that American technology will not be a censorship tool. (Credit: Reuters)
- Nokia CEO Pekka Lundmark will move and will be replaced by Justin Hotard, the Finnish telecommunications company announced on Monday.
- Hotard is currently executive vice-president and managing director of Data Center & AI Group at Intel, according to the website of the flea manufacturer.
- Nokia shares increased by 27.85% in the past year, but have dropped by more than 90% since the peak in June 2000.
Finnish telecommunications company Nokia said on Monday that Pekka Lundmark would resign as CEO and that she had appointed Justin Hotard to resume her role.
Hotard, who will hold the post on April 1, is currently executive vice-president and managing director of the Data Center & IA Group at Intel, according to the website of the flea manufacturer.
The manufacturers of telecommunications equipment, struggling with lower sales of 5G equipment, have sought means to diversify their markets and to enter growth areas such as artificial intelligence.
“It has a solid experience in acceleration of technological companies as well as a vast expertise on the AI markets and data centers, which are essential areas for the future growth of Nokia,” said Nokia president, Sari Baldauf, in a press release.
The shares increased by 1.6% to 4.7 euros per 0854 GMT on the Helsinki Stock Exchange, which only increased by 0.45%.
JPMorgan analysts qualified the CEO of transition a surprise because they said that Lundmark had managed to “stabilize the ship”.
The president and chief executive officer of Nokia, Pekka Lundmark, Chairman of the Board of Directors of Nokia, Sari Baldauf (Lehtikuva / Markku Ulander / Via Reuters / Reuters)
“Since a new CEO has already been appointed, it seems that this transition has been in preparation for some time. With the data center and the AI of the new CEO, it is clear on which Nokia wants to focus “They said in a note.
This point of view has been taken up by independence analysts, who consider change as a strategic change to the Nokia network infrastructure unit, where data centers and IA investments promote new growth opportunities .
Last year, Nokia took a step to buy US optical networking equipment in an agreement of $ 2.3 billion to earn billions of dollars in investments in investments in investments in data centers To respond to the rise of artificial intelligence.
Lundmark, who was Named CEO of Nokia In 2020, Hotard advisor will remain until the end of the year, the company said.
In September, Nokia refused the media saying that the company was looking for a new managing director.
“The planning of this leadership transition was launched when Pekka told the Board of Directors that he would like to consider passing executive roles when the company’s repositioning was at a more advanced stage and when the good successor had been Identified “, Baldauf says.
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Nokia shares increased by 27.85% in the past year, but have dropped by more than 90% since the peak in June 2000.
Its infrastructure activity, increasingly integrating AI technologies, focuses on building and maintaining communication systems, including data centers, servers and routers.
Its mobile network unit focuses on technologies and services allowing mobile communication, including the development and management of cell towers and 5G technologies.
