Esa Mäki has left his position as chief executive of Finnish food company Apetit after more than seven years, citing “personal reasons”.
Apetit, which manufactures ready meals and frozen vegetables, has begun the process of finding a new CEO.
The company announced Mäki’s resignation on 26 October and said he will continue leading the business until the end of May. He will then support Apetit in an advisory role for the rest of 2027.
Kai Seikku, chairman of Apetit’s board of directors, said: “During Esa’s tenure as CEO, the development of Apetit’s financial performance and strategic renewal has been impressive. The change of CEO will not affect the strategy: Apetit is targeting growth, in which we are investing strongly and boldly.”
Before taking the top role at Apetit, Mäki held senior positions at companies including HKScan, Atria and Biolan.
His forthcoming departure comes shortly after Apetit published its third-quarter results on 23 October. The Helsinki-based food manufacturer maintained the full-year outlook it issued in August, forecasting anything from an operating loss of €2m ($2.3m) to an operating profit of €1m.
That guidance does not include the effect of Apetit’s acquisition of Foodhills, a Sweden-based pea supplier purchased in a deal agreed last year.
Although the company’s full-year outlook remains subdued, Apetit reported stronger performance in the third quarter. Its “operating result” rose 55% to €5m, while EBITDA increased 47% to €7.4m. Net sales for the three months to September reached €41.3m.
The improvement reflected higher retail volumes and a “record-high” Finnish frozen pea harvest. Seasonal harvest-related accounting capitalisations in Sweden also supported results, helping counter weaker crushing margins and delays in deliveries in the Oilseed Products business.
Apetit’s portfolio includes a range of plant-based food products, such as vegan wings, meat-free patties and pizzas, as well as gluten-free and dairy-free vegetable appetisers.
