Stockmann of Finland has appointed a new CEO who will take up his position on 19 August 2019. For the last few months, the executive chairman has been filling the role after the previous CEO left in April. Jari Latvanen, the new CEO (pictured here), has served as CEO of HKScan, as president of Stora Enso, and CEO of Findus Nordic as well as occupying several positions at Nestle.

At the same time, Pekka Vähähyyppä has been appointed CFO to take up his duties on the same date, replacing current CFO Kai Laitinen. Pekka Vähähyyppä acted as CFO of Stockmann from 2000 to 2015 before moving to Finnair.

Stockmann has also released its half-yearly results in which it emphasises the need for cost reductions, aiming for €40m by spring 2021.

The Lindex fashion part of the group has updated its strategy for the next four years, and intends to further strengthen international growth and digital transformation. In the words of the press release, "the Board of Directors sees great potential in the future development of Lindex and has therefore decided to explore strategic options for the company's ownership."

See press release on appointments

See press release on results