Today, Suominen announced imminent change of the CEO. Mr. Charles Héaulmé, current Chair of the Board, has been appointed as the new CEO latest from 11 August 2025. Latest, Mr. Héaulmé acted as CEO of Huhtamäki while worked before that in Tetra Pak for 20 years. We view Mr. Héaulmé as a good fit for Suominen with relevant experience from converter businesses. We note Suominen is at the end of its current strategy period and the change of CEO could indicate larger changes to the current strategy. Mr. Tommi Björnman will step down from the position of CEO as of today and the current CFO, Mr. Janne Silonsaari is appointed as interim CEO. Mr. Héaulmé will continue to serve as Chair of the Board until the next AGM of Suominen. In addition to possible larger strategy changes, we believe the change of CEO increases profit warning risk to some extent. We currently model 2025E comparable EBITDA of EUR 21m, 9% below Vara Research consensus and up 22% from EUR 17m in 2024 while Suominen expects its comparable EBITDA to increase y/y in 2025.
LÄS MER
