Finland's state-owned alcohol company, the Altia Corporation, has announced that it is to appoint a Carlsberg official as its new CEO.
Yesterday, Altia Plc’s Board of Directors said that they have chosen Carlsberg's Baltics CEO Pekka Tennilä (pictured) as the successor to Antti Pankakoski, who left in December last year.
Previously, the 44-year-old Pankakoski worked at Carlsberg as CEO of Saku Brewery in Estonia and been responsible for Sinebrychoff's exports, with the focus on the worldwide export of Battery and export of cider and beer to nearby markets. He has also held managerial positions in Kellogg Company (Nordic Kellogg's) and Leaf Confectionery.
"Pekka Tennilä is an international beverage industry expert with solid brand experience. His diverse experience in Altia's strategically important markets and demanding executive positions will provide a good foundation for heading Altia in challenging market conditions," said Matti Tikkakoski, Chairman of the Board of Directors of Altia.
Antti Pankakoski was dismissed from Altia because of what directors described as a "poor performance".
The Helsinki Times reported that Pankakoski was awarded a severance package of €500,000 because of his dismissal, the equivalent of 18 months wages.
At the time, Altia explained that the dismissal came about as a result of the company's poor performance over the past few years.
“Altia has recently clearly fallen behind its financial targets and lost market share. Performance has decreased during the past two years. The company needs new leadership to meet the set goals in challenging market and operational environment,” the company said.
© 2014 - European Supermarket Magazine by Enda Dowling
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