People Moves: Pekka Lundmark
Job From: President & CEO at Nokia
Job To: Advisor to new Nokia President until the end of 2025
Effective 1 April 2025, Pekka Lundmark is no longer CEO of Nokia.
Having re-joined the company in 2020 at a challenging time, it thrived under his leadership, expanding its network offerings and ending Q4 2024 with 9% growth, the best quarterly margin it has seen in 10 years.
He will remain with Nokia as an advisor to new company CEO Justin Hotard until the end of 2025 to ensure a smooth transition in leadership.
Reflecting on his tenure, Pekka shared via LinkedIn: “I’m proud of the work our brilliant team has done in re-establishing our competitiveness and technology leadership and in positioning the company for growth in data centres, private wireless and industrial edge and defence.
“It wasn’t an easy decision to step down, but I feel it is the right time for me to move on.”
Having re-joined Nokia in 2020 at a challenging time, the company has thrived under Pekka’s leadership, expanding its network offerings and ending 2024 with a strong quarter of 9% growth, the best quarterly margin the company has seen in 10 years.
Under his leadership, Nokia regained its footing in key areas such as 5G radio networks, which are essential for high-speed mobile connectivity and cloud-native core networks, which allow telecom operators to manage services more efficiently.
The telco has also expanded its portfolio into emerging markets such as data centres and private wireless networks - areas that remain critical for enterprises adopting AI and industrial automation technologies.
“I see great opportunities for Nokia to build on this foundation and I’m enormously grateful to the talented, committed and hard-working team at Nokia for everything we have achieved together,” Pekka noted on LinkedIn.
To read the full article in the magazine, click HERE.
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