Nokia CEO Pekka Lundmark has his eyes on startups and scaleups after his Nokia tenure

In June 2020 , it was announced that Pekka Lundmark would join Nokia on August 2020. Earlier this year, in February 2025, Nokia announced that Lundmark would step down as president and CEO on 31 March and be succeeded by Justin Hotard.

However, Pekka Lundmark will continue to serve as an advisor to Hotard for the remainder of 2025 to ensure a smooth transition.

Nokia said Pekka Lundmark’s leadership has been pivotal in restoring Nokia’s position as a technology leader in 5G radio networks, as well as driving growth in new areas like private wireless, industrial edge, and defence. He has also overseen a successful repositioning of the company, revitalized its brand, and transformed its operating model.

This approximately five-year window on the top of the technology world needs a summary:

“I am proud of the work our brilliant team has done in re-establishing our technology leadership and competitiveness, and positioning the company for growth in data centers, private wireless and industrial edge, and defence. This is the right time for me to move on,” saysLundmark.

Lundmark has served on the boards of various industry organizations in Finland, most recently, he served as the 2019 and 2020 chairman of the board of the Confederation of Finnish Industries (EK; Finnish: Elinkeinoelämän Keskusliitto; Swedish: Finlands Näringsliv), the largest employers’ organization in Finland. During his tenure at EK, he prioritized partnering with the EU to find solutions to curb climate change and increasing the employment rate.

Pekka Lundmark is eyeing the life after Nokia. So far, he has invested in one startup, Qmill, but, for sure, more is to come.

“That’s right. I am here to see around, and there is no better immersion to the Startup scene than Slush”.

Pekka Lundmark is one of those Finnish technology superstars who people recognize at Slush. Between some selfies with youngsters, he shapes a big picture for Finland:

“Finland desperately needs economical growth, and I think alike many others, the startups and scaleups are here to bring a big chunk of it. Therefore I can see my role and even responsibility to support them as an investor and mentor in the near future, starting next year.