CEO of Panostaja to change – Tapio Tommila appointed as the new CEO

 

Panostaja Oyj                      Stock Exchange Bulletin, changes in management                                             October 26, 2018     9:35

CEO of Panostaja to change – Tapio Tommila appointed as the new CEO

Panostaja’s current CEO Juha Sarsama will be relinquishing his post on December 31, 2018. Sarsama will continue with the company as an investment director and a member of the Management Team, with a focus on finding new investment targets and developing the existing segments. Panostaja’s Board of Directors has appointed the current Executive Vice President Tapio Tommila (born 1978, M.Sc. (Econ.), eMBA) as the new CEO as of January 1, 2019.

“I started as Panostaja’s CEO more than 11 years ago. I still enjoy my work, which I get to do with an absolutely amazing team. That said, I personally believe that having the same person as the CEO for more than a decade is not conducive to the development of a company, which is why I feel that it is time for me to step aside. I look forward to being able to focus more of my time on finding new investment targets, working in the boards of existing ones and cooperating with the management of the various companies to forge new success stories,” Juha Sarsama says.

“Panostaja’s operations have been determined and strong during Juha Sarsama’s term as the CEO. I would like to thank Juha for his excellent work. Fortunately for us, he will be continuing as part of the key personnel of the Panostaja team. Juha also deserves special praise for developing Panostaja’s operating models and key team, which, among many other things, enable the smooth implementation of the change at hand. I am confident that under Tapio’s leadership Panostaja’s future is in the best possible hands and we will bolster the development of our operations even further and make strides in accordance with our strategy,” says Chairman of Panostaja’s Board of Directors Jukka Ala-Mello.

Tapio Tommila has worked for Panostaja since 2006. He has served the company as an investment director between 2008 and 2015, his latest title being Executive Vice President and CFO since 2015. Before his transition to Panostaja, Tommila worked as an associate at Deloitte Corporate Finance Oy and PricewaterhouseCoopers Oy.

“Panostaja has a long tradition as an owner-partner of Finnish growth companies, and it is a great honor to be chosen as the next CEO of the company. I feel that I get to step in as the CEO in a great situation – Panostaja’s financial position is strong and our investments have plenty of potential. In addition to this, Panostaja has a highly competent and committed team, which we will continue to strengthen to gain additional resources for growth. Our aim is to leverage our chosen strategy to grow into an actor that is even stronger than before,” Tapio Tommila says.

As of January 1, 2019, Panostaja’s Senior Management Team will be formed by CEO Tapio Tommila, Investment Director Miikka Laine, Investment Director Juha Sarsama and Development Director Minna Telanne. The team will later be supplemented with a CFO, whose recruitment is already under way.

Panostaja Oyj

Board of Directors

Further information:

Juha Sarsama, Panostaja’s CEO until December 31, 2018, tel. +358 (0)40 774 2099
Tapio Tommila, Panostaja’s Executive Vice President, CEO as of January 1, 2019, tel. +358 (0)40 527 6311
Jukka Ala-Mello, Chairman of the Board, tel. +358 (0)50 554 3810

Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in nine investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2017 financial year, the Group’s net sales totaled MEUR 193.2.

www.panostaja.fi