Changes in Stockmann’s management – Jari Latvanen appointed as CEO, Pekka Vähähyyppä as CFO

STOCKMANN plc, Changes board/management/auditors 9.8.2019 at 7:50 EET

Stockmann plc’s Board of Directors has appointed Jari Latvanen as Stockmann’s new Chief Executive Officer as of 19 August 2019. Jari Latvanen (born 1964), MBA, has previously served as President and CEO of HKScan, Vice President of Stora Enso, CEO of Findus Nordic, and has held several management positions at Nestlé.

“Jari Latvanen has strong skills to guide Stockmann’s transformation journey further. He has a broad track record in leading strong consumer brands and a clear vision for developing the retail business. I am confident that he is a leader who can motivate our people to work towards achieving our goals in the coming years,” says Lauri Ratia, Chairman of the Board of Directors.

“I’m excited to join the Stockmann Group in a situation where a new direction has been identified and rapid changes are taking place in retailing. Stockmann is a strong brand and has a strong foothold in premium shopping in both traditional and online markets. The new strategy together with the talented team will further strengthen our position. Our goal is to reposition Stockmann in a way that inspires and resonates with all stakeholders,” says Jari Latvanen.

Changes in the Management Team

Pekka Vähähyyppä (born 1960), M.Sc (Econ.), EMBA, has been appointed as Chief Financial Officer and as a member of the Stockmann Group’s Management Team as of 19 August 2019. He has most recently served as the CFO at Finnair. Before that he worked as the CFO of Stockmann from 2000 to 2015.

“Pekka Vähähyyppä has a long and extensive experience in the retail and consumer businesses and a strong track record in many demanding change and restructuring projects. I am happy to welcome Pekka back to Stockmann,” says Lauri Ratia.

Kai Laitinen, CFO, has decided to leave Stockmann in order to assume a new position outside the company.

Nora Malin, Director, Corporate Development, has also decided to leave Stockmann. She will start in a new position outside the company in October.

“I would like to thank Kai and Nora for their significant contributions and development of the company,” says Lauri Ratia, Chairman of the Board of Directors.

Further information:
Lauri Ratia, Chairman of the Board of Directors, tel. +358 50 2922

www.stockmanngroup.com

STOCKMANN plc

Lauri Ratia
Chairman of the Board of Directors

Distribution:
Nasdaq Helsinki
Principal media

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