Scouting report · NOK
Justin Hotard
Nokia President & CEO since April 2025; ex-Intel data-center and ex-HPE HPC/AI chief
—thin record
Not ranked yet
Scouting sheet
as of 24 Sep 2026Delivers guidance—no promises on the record yet
Answers the question—no call reviewed yet
Capital allocation—company not reviewed yet
Pay design60operating income, fcf, strategic, relative tsr, eps · 1.65% of net income
Skin in the game—no holding or price on file
- In the role
- 2 yr
- Promises scored
- 0
- Hit rate
- —
- Dodges / 100 answers
- —
- Airtime on calls
- —
Every promise, oldest firstno scored promises yet
What to weigh
Watch 4
- Joining cost: EUR 2.0m cash plus EUR 6.0m of restricted shares (vesting 2026-2028) to buy out forfeited Intel awards, and about EUR 1.0m to cover the sign-on bonus he had to repay Intel. He left Intel about a year after joining itsrc
- Pay was reshaped around his hire: the 2025 AGM passed a new policy adding restricted shares of up to 100% of salary for US-market competitiveness, with a 'significant minority' voting against; 2026 salary raised about 6%src
- Holds CEO and interim head of the Mobile Infrastructure segment at once, while 2026 restructuring charges were raised to about EUR 800m from EUR 250msrc
- Accounting cost of CEO pay for nine months of 2025 was EUR 10.7m against group profit attributable to shareholders of EUR 651m; 2025 STI paid 129% of target though both diversity metrics scored 0% and there were five subcontractor fatalitiessrc
In their favour 2
- Skin in the game: bought into the co-investment plan with EUR 2.82m of his own money at the start, plus EUR 0.77m more in April 2026; shareholding 597% of salary against a 3x requirementsrc
- Long-term award pays on relative TSR (50%) and cumulative reported EPS (40%) over three years; 2022 predecessor awards lapsed in full on the share-price test, so the plan has shown it can pay zerosrc
Career
- 2025 – nowNokiasrc
President & CEO
Announced 2025-02-10, started 2025-04-01, succeeding Pekka Lundmark; interim head of Mobile Infrastructure from 2026-01-01 - 2024 – 2025
- 2021 – 2024
- 2019 – 2020
- 2017 – 2019
- 2015 – 2016
- 2013 – 2014
- 2012 – 2013
- 2010 – 2012
- 2007 – 2010
- 2005 – 2007
- 2003 – 2005
- 2002 – 2003
- 1996 – 2000
Not located: 2000-2002 not described in the 20-F (the MIT Sloan MBA, class of 2002 per WS-wiki, falls in it); the 20-F gives 2016-2017 as the seam between two HPE roles without a gap
Achievements
- Hired from Intel to run Nokia from 2025-04-01 on the same salary and incentive levels as his predecessor, with the brief of growing AI and data-center businesssrc
- In his first year Nokia closed the EUR 2.5bn Infinera acquisition, announced a $1bn NVIDIA investment and AI-RAN partnership (October 2025), and set a new strategy at the November 2025 Capital Markets Daysrc
- Cut Nokia from four business groups to two operating segments (Network Infrastructure, Mobile Infrastructure) from 2026-01-01, and runs Mobile Infrastructure himself on an interim basissrc
- At HPE, ran the high-performance computing and AI unit that delivered the first exascale supercomputer for the US Department of Energysrc
- Put EUR 2.82m of his own money into Nokia shares in June 2025 under the co-investment plan and bought 84,404 more on Nasdaq Helsinki at EUR 9.15 on 2026-04-28src
Education
Background
- Other American national per the 20-F, which gives a year of birth rather than an age, so no age is recorded here. The 20-F does not address family relationships among officerssrc
- Boards Listed as a member of the European Round Table for Industry (ERT)src
- Other Service agreement: 12 months' notice either way; on termination without cause, 12 months' compensation including incentives, with unvested equity forfeited unless the Board decides otherwisesrc
- In the press Public voice for removing 'high-risk vendors' from European networks and for more EU investment in digital infrastructure (CNBC interviews, April and September 2026)src
The promise ledger
No promise on the record yet: the research routine has not scored this company's guidance.
Sources
9- Filing Nokia Corporation Form 20-F for 2025 (accession 0001628280-26-015034): GLT biographies, shareholdings, Remuneration Report 2025, note on CEO remuneration · 2026-03-05
- Filing Nokia 6-K, Managers' transactions (Hotard), acquisition on Nasdaq Helsinki under the co-investment LTI (0001104659-26-050119) · 2026-04-28
- Filing Nokia 6-K, Managers' transactions (Hotard), receipt of a share-based incentive (0001104659-26-041817) · 2026-04-10
- Filing Nokia 6-K, resolutions of the 2026 Annual General Meeting (0001104659-26-041296) · 2026-04-09
- Web search result WebSearch: Justin Hotard (Wikipedia summary: BS electrical engineering, University of Illinois Urbana-Champaign, 1997; MBA, MIT Sloan, 2002) · 2026-09-24
- Web search result WebSearch: DCD, 'Nokia names Intel's AI data center lead Justin Hotard as new CEO' (HPE 2015-2024; delivered the first exascale supercomputer for the US DoE) · 2026-09-24
- Web search result WebSearch: European Round Table for Industry, member page 'Justin Hotard' · 2026-09-24
- Web search result WebSearch: CNBC video 2026-09-18, 'Nokia CEO: China closed its doors to Western telecoms years ago' · 2026-09-24
- Web search result WebSearch: Light Reading, 'Nokia boss warns of more European job cuts as AI lifts Q2 sales' (2026 restructuring charges raised to about EUR 800m from EUR 250m) · 2026-09-24