In the latest development, Finland-based food group Raisio has announced the appointment of Orkla executive Pasi Flinkman as its new CEO. This decision marks a significant change in leadership for the company.
This new appointment comes as Pasi Flinkman prepares to take over the reins from Pekka Kuusniemi, who has been leading the Benecol brand owner since 2017. Kuusniemi will officially step down on 15 June, paving the way for Flinkman to assume his new role.
Prior to this role, Flinkman held the position of CEO at Orkla Suomi, the Finnish confectionery and snacks unit of Norway-based Orkla. His experience in this role, along with his international exposure in countries like the Netherlands, the Baltics, and China, makes him a strong candidate for the CEO position at Raisio.
Arto Tiitinen, chair of the board of directors at Raisio, expressed confidence in Flinkman’s ability to drive business growth and lead the company forward. Tiitinen also extended gratitude to Pekka Kuusniemi for his dedicated work at Raisio over the years.
Looking ahead, Flinkman sees Raisio as a unique combination of Finnish heritage, innovation capabilities, and industry expertise. He commended the company for its bold investments, international expansion, and innovative spirit, and expressed enthusiasm about joining the Raisio team.
As Flinkman takes on his new role, he faces the challenge of reviving the Elovena oatmeal producer, which has been grappling with stagnating sales and recently revised its growth targets for the upcoming years. Despite a slight increase in EBIT, the company’s net sales have shown a decline, attributed to shifting consumer preferences towards more affordable products.
In a statement following the financial results, CFO Mika Saarinen highlighted the competitive landscape dominated by private labels and the ongoing strain on purchasing power in Europe. He emphasized the need for strategic planning and adaptation to navigate the current market conditions.
