Per Thelin leaves Stockmann

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With a new Chairman, the turnaround specialist Per Thelin leaves his position as Stockmann’s CEO only 17 months after he took the job.

”The agreed strategic actions – in particular the divestments of Russian department stores and Seppälä – have been carried out as planned. The company structure consisting of Stockmann Retail, Real Estate and Lindex has been put in place, and all three divisions are being developed further,” says Jukka Hienonen, Chairman of the Board of Directors.

Per Thelin and Stockmann’s Board of Directors today announces they have jointly agreed that Per Thelin will leave his position as Chief Executive Officer of Stockmann on 4 April 2016.

“We have achieved a major change in Stockmann’s operations since the end of 2014. This has been team work where the entire management and all our people have worked together for a common goal: to turn Stockmann back to profit. The changes made enable Stockmann to enter the next stage in its strategy with focus on growth opportunities and the omnichannel customer experience,” says Per Thelin.

Thelin has been the CEO of Stockmann since November 2014.

The Board of Directors has initiated a process for searching a new CEO. Lauri Veijalainen, Chief Financial Officer, has been appointed the interim CEO of Stockmann.

”On behalf of the entire Board of Directors, I would like to thank Per Thelin for his significant contribution in implementing Stockmann’s strategy and building a good foundation for Stockmann’s future success,” says Jukka Hienonen, Chairman of the Board of Directors.