Oyj Vesa Alatalo, CEO of paper industry equipment supplier Vaahto Group Plc, Finland, is leaving the company on August 31 to become managing director of Oy SKF AB. Chairman of the Board Reijo Järvinen noted that "Vesa Alatalo’s resignation surprised us. Vesa has performed excellently and under his management the group began energetically making the changes required by the new strategy. I want to wish Vesa the best of luck in his new and demanding position."

 

The board of directors addressed the situation this week, appointing M.Sc. (Tech.) Topi Karppanen as acting CEO starting September 1. Karppanen has been a member of the board of Vaahto Group Plc Oyj since 2010 and has a strong industrial background.

"Topi has been a member of the board and thus knows the company well. I believe that Topi’s solid experience helps him to succeed in this position. Under Topi’s management we will continue the work Vesa Alatalo began in deploying the strategy. I wish Topi the best of luck and success in his new position," said Järvinen.

The board of directors will start the search for a new permanent CEO immediately.