Intel’s AI Chief to Leave Chip Maker in Wake of CEO Exit
Justin Hotard, who joined Intel in February last year, is moving to take the top job at European telecom-gear maker Nokia
Intel’s head of data-center and artificial-intelligence operations is leaving the group to take the helm of European telecommunications-gear maker Nokia NOKIA 2.10%increase; green up pointing triangle, the latest high-profile executive shuffle at the chip maker as it struggles to revamp its business.
Justin Hotard, who joined Intel in February last year, will be replacing Pekka Lundmark as Nokia’s chief executive as of April 1.
Hotard previously served as executive vice president and general manager of high-performance computing, AI and labs at Hewlett Packard Enterprise. He had been leading efforts at Intel to cash in on AI technology.
The chip maker has lagged behind rivals like Nvidia in the AI race amid a costly turnaround strategy to begin manufacturing chips for other companies. That move has been blamed for ultimately wiping out $150 billion in market value. Intel stock is down more than 55% over the past 12 months.
Pat Gelsinger retired abruptly as Intel’s CEO in December, capping a nearly four-year run that saw the chip maker fall behind rivals. The company named Chief Financial Officer David Zinsner and Michelle Johnston Holthaus, general manager of Intel’s client computing group, as interim co-CEOs. Days later, Intel named two chip industry veterans to its board.