Intel’s AI Chief Leaves to Run Nokia After a Year on the Job

[soAsian]

"Intel recruited Hotard just over a year ago from Hewlett Packard"

Are the rats jumping ship, as they said?


(Bloomberg) -- 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.

https://finance.yahoo.com/news/nokia-hires-intel-ai-executive-095425392.html

 

[XYang2023]

My guess is he does not see career progression at Intel, i.e. cannot be the CEO given MJ is the CEO of Intel Products. He might have a shot under PG but PG was let go.

 

[blueone]

Interesting that INTC is up by about 4% today, apparently on the news of Hotard's exit.

 

[MKWVentures]

DCAI is not successful. Intel has tremendous uncertainty everywhere. He could have been pushed out or just run for the door or wants to be a CEO. who knows.

HP to Intel to Nokia.... Tech giants past. I wonder where he will go to next.

 

[Daniel Nenni]

"Intel recruited Hotard just over a year ago from Hewlett Packard"

Are the rats jumping ship, as they said?

(Bloomberg) -- 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.

https://finance.yahoo.com/news/nokia-hires-intel-ai-executive-095425392.html

Now this is how you hire a new CEO!

Lundmark, 61, will step down March 31 after more than four years in the role, and Hotard will take over the next day, the Espoo, Finland-based company said in a statement on Monday. The outgoing CEO will continue until the end of the year as an adviser to Hotard, 50.

 

[XYang2023]

Now this is how you hire a new CEO!

Lundmark, 61, will step down March 31 after more than four years in the role, and Hotard will take over the next day, the Espoo, Finland-based company said in a statement on Monday. The outgoing CEO will continue until the end of the year as an adviser to Hotard, 50.

But PG's departure before a replacement CEO is found could be his decision. Obviously, no one wants to see the current situation unfold without a smooth transition.

 

[Daniel Nenni]

But PG's departure before a replacement CEO is found could be his decision. Obviously, no one wants to see the current situation unfold without a smooth transition.

From what I was told the Intel BoD pushed Pat out. The announcement was retired but the truth is known. It is being called a refirement.

 

[MKWVentures]

Now this is how you hire a new CEO!

Lundmark, 61, will step down March 31 after more than four years in the role, and Hotard will take over the next day, the Espoo, Finland-based company said in a statement on Monday. The outgoing CEO will continue until the end of the year as an adviser to Hotard, 50.

I am not sure how someone could take a job at Intel without knowing the plan for the Foundry. Wholly owned subsidiary isnt a whole lot different.

Otherwise the interview gets awkward:

CEO candidate:" I dont want Intel foundry, I want to outsource like successful companies do. and I dont want 8B in losses per year"
Board: "They are a foundry, you can choose who you want.... but if you don't choose the Intel foundry, losses go from 8B to 12B and you get fired. your choice."
CEO Candidate: "Oh, shoot, I just remembered.... I can't take the Job.... I got a PTA meeting and my dog is getting groomed this week Sorry. Does Uber pick up from RNB???"

 

[XYang2023]

From what I was told the Intel BoD pushed Pat out. The announcement was retired but the truth is known. It is being called a refirement.

I understand that part. But I think he left the company before a replacement could be his own decision. I just felt the whole saga is very unmatured and they (the board and PG) are completely irresponsible to stakeholders.

 

[XYang2023]

I am not sure how someone could take a job at Intel without knowing the plan for the Foundry. Wholly owned subsidiary isnt a whole lot different.

Otherwise the interview gets awkward:

CEO candidate:" I dont want Intel foundry, I want to outsource like successful companies do. and I dont want 8B in losses per year"
Board: "They are a foundry, you can choose who you want.... but if you don't choose the Intel foundry, losses go from 8B to 12B and you get fired. your choice."
CEO Candidate: "Oh, shoot, I just remembered.... I can't take the Job.... I got a PTA meeting and my dog is getting groomed this week Sorry. Does Uber pick up from RNB???"

Even with an eventual spin-out, it should only be considered after IF achieves breakeven or later. Therefore, there is no need to mention it at the moment. He could simply say that—it's not difficult.

 

[blueone]

Interesting that INTC is up by about 4% today, apparently on the news of Hotard's exit.

And as I type this INTC is up another 5.9% 8.1% today. What am I missing?

 

[chillfire]

And as I type this INTC is up another 5.9% 8.1% today. What am I missing?

Vice President Vance pledges AI chips will be made in US

 

[osnium]

Vice President Vance pledges AI chips will be made in US

Last I heard, Samsung and TSMC make chips in the US as well. Why is Intel rallying in particular? Vance’s comments don’t necessarily mean a commitment to Intel.

 

[blueone]

Vice President Vance pledges AI chips will be made in US

I'm sure they will. By TSMC.

 

[chillfire]

Vance is from Ohio. I guess he will use his influence (plus some from DJT) to push NVDA use intel to produce some low end chips if Intel does not mess up too badly in the next couple of years. This should be the reason for Intel price rally this morning. I also guess somebody has insider trading yesterday and today. It was absolutely a bad news for intel to lose head of DC AI. That guys seems capable not the previous chief people officer.

 

[blueone]

Vance is from Ohio. I guess he will use his influence (plus some from DJT) to push NVDA use intel to produce some low end chips if Intel does not mess up too badly in the next couple of years. This should be the reason for Intel price rally this morning. I also guess somebody has insider trading yesterday and today. It was absolutely a bad news for intel to lose head of DC AI. That guys seems capable not the previous chief people officer.

I doubt Vance can get anyone to use IFS just because he asks. As for Hotard, he has no chip development experience at all, as far as I can tell. When Intel hired him I was mystified.

 

[blueone]

And as I type this INTC is up another 5.9% 8.1% today. What am I missing?

And... INTC is in the top 3 most active stock being traded today on any exchange, as I type this. 104 million+ shares. So weird.

 

[chillfire]

I doubt Vance can get anyone to use IFS just because he asks. As for Hotard, he has no chip development experience at all, as far as I can tell. When Intel hired him I was mystified.

True. He is not a chip development but more of system integration personnel. He knows requirements of DC AI chips better than chief people office. That is what I meant. One of Current co-CEO, MJ, was a sales person, right? I dont think she is more capable than Hotard.

 

[blueone]

He knows requirements of DC AI chips better than chief people office. That is what I meant.

That made me laugh. You're probably correct. Of course, in this case "better" does not equal "good enough".

 

[sit]

Hotard was one of several less than stellar Pat additions or appointments to the Intel ELT. No loss. Intel will be well-served to see a few others leave.