The board of FootBalance has appointed CFO Klaus Rauhansalo as acting CEO from the beginning of June. FootBalance´s current President and CEO Tom Jungell has made a decision to move on to new challenges. Jungell has been with the company since 2011.
“Under Tom´s management the company has been developing positively and continued its international growth in new market areas. I want to thank Tom for his efforts and wish him all the best with his new challenges,” Founder Erkki Hakkala says.
After its commercial launch in 2007, FootBalance has grown from a domestic Finnish company into an international player. In 2010 the Swedish private equity company Scope invested in FootBalance and became a large shareholder. Today FootBalance´s products are sold by over 1 000 retailers in 24 countries.
Andres Ossmark, Partner at Scope expressed his satisfaction with the company’s growth: “FootBalance has entered a number of potential growth markets in both Europe and Asia this year. The future looks very promising.”
Klaus Rauhansalo has a long career and extensive experience from both large corporations and startup companies.
“I thank the board for this vote of confidence. I will do my utmost to the keep the business rolling normally during this transition,” Rauhansalo says.
