India, Feb. 10 -- Finnish tech giant Nokia's President and Chief Executive Officer (CEO) Pekka Lundmark is stepping down, the company announced on Monday, February 10, 2025.

Lundmark had told the Board that he would like to move on from executive roles when the repositioning of the business was in a more advanced stage, and when the right successor had been identified, said Sari Baldauf, Chair of Nokia's Board of Directors.

As a result, Lundmark will step down on 31 March 2025 and will continue as an advisor to his successor until the end of the year.

The next President CEO will be Intel's Justin Hotard and he will start his new role on April 1, 2025.

Pekka joined Nokia at a difficult time in its history. Under his tenure, Nokia has s...