Copenhagen: With an eye on breaking into the prospects of AI in the new generation, Finland-based telecommunications gear manufacturer Nokia has roped in Justin Hotard to lead the company. Hotard is now the executive vice president and general manager of Data Center & AI Group at Intel, according to the chipmaker's website.

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. Nokia, struggling with lower sales of 5G equipment, have been looking for ways to diversify their markets.

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"He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data centre markets, which are critical areas for Nokia’s future growth," Nokia's Chair Sari Baldauf said in a statement.

Lundmark, who was appointed as Nokia's CEO in 2020, will stay on as an advisor to Hotard until the end of the year, the company said. In September, Nokia declined media reports saying the company was looking for a new chief executive.

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"The planning for this leadership transition was initiated when Pekka indicated to the Board that he would like to consider moving on from executive roles when the repositioning of the business was in a more advanced stage, and when the right successor had been identified," Baldauf said. Justin Hotard has been trending on Google ever since the news of his appointment as the new CEO of Nokia.

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