Rapala VMC Corp. reported it made several key appointments to its global management team (GMT), including a chief operating officer. In a note to investors, President and CEO Lars Ollberg outlined the changes effective January 1, 2024. All report to Ollberg.
- Jean-Philippe Nicolle, a member of the GMT and CFO, will become COO and assume the responsibility for business performance, finance control and internal auditing.
- Miikka Tarna becomes CFO and a member of the GMT. Tarna has worked for the company since 2010 and is deputy CFO.
- Tuomas Akkanen was appointed a member of the GMT and EVP, head of group supply chain and winter sports. Akkanen has worked for the company since 2017 and is head of the group supply chain and winter sports.
- Päivi Ohvo was appointed a GMT member and EVP of Human Resources. Ohvo has worked for the company since 2005 and is head of HR and the managing director of Marttiini Oy.
- Tuomo Leino was appointed a member of the GMT and EVP, general counsel. Leino has worked for the company since 2019 as general counsel, board secretary and sustainability head.
- Joni Tuominen was appointed to the GMT and as the EVP of global business development and IT. Tuominen worked for the company from 2011 to 2015 and since 2018 has led the company’s global business development.
“I want to congratulate new Global Management Team members for their appointments,” said Ollberg. “At the same time, I want to remind everyone of the work ahead. This team, together with the robust, experienced and professional local managers, will ensure the success of Rapala VMC in the years to come.”
The announcement comes five months after the fishing tackle company based in Helsinki, Finland, reported that market conditions continued to pose challenges as the de-stocking process at the retail and wholesale levels persisted for a longer time than initially anticipated. The company posted a net loss for the six-month period ended June 30, 2023, as net sales fell 21 percent to €117.9 million. Currency-neutral sales were down 20 percent in H1 compared to the prior-year corresponding period.
The company said the new management team, along with several other managers worldwide, would focus on implementing a new three-year strategic plan with measurable projects focused on improving profitability and working capital management. Read SGB Media‘s coverage here.
Photo courtesy Rapala