Stockmann Chairman to resign due to ownership battle

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The owner battle of Stockmann continues.
The chairman Kaj-Gustaf Bergh is leaving his post – and former CEO of Finnair, Jukka Hienoen, is suggested to suceed him.
“It is better that a neutral and independent chairman is chosen,” says Kaj-Gustaf Bergh to Hufvudstadsbladet.


The battle of Stockmann is about owner Hartwall Capital’s proposal to merge the A and B shares to one series. Something that would benefit Hartwall’s influence, but maybe also the share price in a positive way.

Kaj-Gustaf Bergh has previously designated it as an attempt to hijack the company.

“It’s very bad for the company. It is not good when the big owners can not agree in advance, “he told Hufvudstadsbladet.

Everyone involved, however, say that it is Kaj-Gustaf Bergh’s own decision to resign from the Chairman position and Hartwall  emphasizes that it is satisfied with the development of the company. Bergh will remain as a board member.

Also Vice President Kari Niemistö and Board members Charlotta Tallqvist-Cederberg and Carola Teir-Lehtinen, have announced that they will not be available.

New board members are Swedish investor and e-commerce expert Susanne Najafi, Leena Niemistö and board professional Michael Rosenlew.