Ristimäki resigns as head of Rapala with immediate effect
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Justi Ristimäki, has surprised the industry by resigning today as President and CEO of Rapala VMC Corporation with immediate effect.
The group released the news to the Stock Exchange late this afternoon and also announced that its current Chairman, Louis d’Alançon, has taken over as interim President and CEO.
Ristimäki has been at the head of the group since September 2016 and has been responsible for a revival in its fortunes. He will remain available to the Board of Directors until March 27, 2020, to assist on special projects to secure an orderly transition. The Board has already started a recruitment process to find his successor.
“We want to thank Jussi for his strong contribution to our strategic initiatives aimed at growth, improvement of profitability, lightening the balance sheet and improving the operational performance. We expect his successor to further accelerate these actions and to have special emphasis on global sales and brand building,” said d’Alançon.
”I want to warmly thank all Rapala employees and other stakeholders for the good co-operation and great experiences during the past 12 years. In the past three years we have worked together on several new fronts with strategic initiatives, which I believe will form a good platform for Rapala’s long-term success. Now it’s time for someone else to take the lead and for me to pursue new things in due course,” added Ristimäki.
No reason was given by Ristimäki for his decision to leave the group.