Intel’s head of data-center and artificial-intelligence operations is leaving the group to take the helm of European telecommunications-gear maker Nokia, the latest high-profile executive shuffle at the chip maker as it struggles to revamp its business.

Justin Hotard is appointed Nokia’s new CEO, just months after former Intel boss Pat Gelsinger retired. Trump's "America First" ethos may come at a big cost to the stock market.

Nokia (NYSE: NOK) said Monday that Justin Hotard will succeed Pekka Lundmark as the Finnish company's new CEO. Intel hired Hotard as executive vice president and general manager of its data center and artificial intelligence group in January 2024.

After only a little more than a year of running Intel’s Data Center and AI group – which is probably about as much fun right now as falling down the

Nokia Oyj will replace Chief Executive Officer Pekka Lundmark with Intel Corp.’s recently appointed head of artificial intelligence Justin Hotard in a surprise announcement as the network equipment maker works to exit a prolonged slump in orders from phone operators.

Nokia has hired its first CEO from America in a renewed pivot to AI designed to arrest years of low valuations and stagnant revenue growth. The Finnish telecoms group announced the appointment of Justin Hotard,