Rapala CEO unveils Global Management Team to accelerate ‘transformation process’
Rapala VMC has announced a new global management team to accelerate what it calls its ‘transformation process’.
The Finnish company, which recently completed a €30 million refinancing plan, says the new team’s priority will be to identify those business areas that positively affect profitability and market position.
The company’s new One More Turn strategy places a special focus on strong positive cash flow and the acceleration of inventory turnover, providing the flexibility to react quickly to market changes while optimising financial performance.
It will increase its presence in new markets but will focus mainly on its existing business, says President and CEO, Lars Ollberg (pictured).
Other key priorities include streamlining existing processes and reducing costs, investment in areas that bring long-term value, engaging employees in decision-making and additional focus on measures that improve customer experience and meet market needs.
After securing its new financial package, Rapala VMC plans to ‘invest heavily’ in the North American market to become more competitive. In Europe, it aims to restore and grow profits and market share, while in Asia, South America and Africa it will take a localised approach in which products could be tailored to specific market needs.
“We believe that with strict cost control, targeted marketing, personnel training and, especially, further investment in the best customer work on the market we will be able to succeed excellently both in the short and especially in the long term,” said Ollberg.
Members of the new global management team are:
Jean-Philippe Nicolle, already a member of the Global Management Team and currently CFO, becomes Chief Operating Officer responsible for business performance, finance control and internal auditing.
Miikka Tarna has been appointed Chief Financial Officer. He is currently Deputy Chief Financial Officer.
Tuomas Akkanen becomes Executive Vice President and Head of Group Supply Chain and Winter Sports.
Päivi Ohvo has been appointed Executive Vice President, Human Resources. He is currently Head of HR and the Managing Director of Marttiini Oy.
Tuomo Leino has been moved from his role as the group’s General Counsel, Board Secretary and Head of Sustainability to Executive Vice President, General Counsel.
Joni Tuominen is Executive Vice President, Global Business Development and IT. He has been heading the Group’s Global Business Development function since 2018.
All positions become effective from January 1st, 2024, and all report directly to Lars Ollberg.