Finnish retail giant Stockmann has appointed Susanne Ehnbåge as its new CEO, replacing Jari Latvanen. Ehnbåge, who previously served as the CEO of Lindex, will also continue in her role at Lindex. In addition, Tove Westermarck has been named as the Chief Operating Officer of the Stockmann division.
Chair of Stockmann, Sari Pohjonen, expressed confidence in the company’s transformation strategy and stated that now is the appropriate time for a change in leadership to support their growth. Pohjonen highlighted Ehnbåge’s successful track record in retail and digital consumer business, leading Lindex to consistent growth. She emphasized the importance of Lindex’s performance in improving the overall position of the Stockmann Group and expressed the intention to continue on this path with Susanne at the helm.
Ehnbåge also commented on the exciting developments happening in the retail industry, stating that Stockmann is well-positioned to take advantage of them with its talented team. Both Lindex and Stockmann brands have thrived due to their carefully curated collections, services, sustainability actions, and advancements in digitalization. The company will continue to prioritize strategic initiatives to drive growth in both divisions.
Stockmann has made significant progress in its strategic repositioning efforts in recent years, despite the challenging macroeconomic environment. The successful restructuring program has involved selling all department store properties and reducing debt. With these milestones achieved, the focus now shifts to accelerating growth and increasing shareholder value.
While no specific reason was given for Latvanen’s departure, he wished the team well and highlighted the achievements of the first phase of the company’s transformation. Pohjonen thanked him for his effective leadership and for setting Stockmann up for further growth.
Susanne Ehnbåge, as Stockmann’s new CEO, brings valuable experience and expertise to the role. With her leadership, the company aims to continue its growth trajectory, seize opportunities in the industry, and achieve strong financial performance. Stockmann’s commitment to strategic repositioning, sustainability, and digitalization will be pivotal in driving its success going forward.
Useful links:
1. Stockmann Official Website
2. Lindex Official Website
