Heikki Malinen, long-serving President and CEO of Finland’s Posti Group, has resigned, with parcels chief Turkka Kuusisto replacing him on an interim basis.
Malinen, who had headed the Finnish postal operator since 2012, stepped down as of October 1. He led the group through a difficult period, including coping with a dramatic decline in mail volumes, continuous restructuring to reduce operating costs and expansion into new business areas.
“When I was appointed as CEO, the owner gave me three objectives: ensure that Posti remains profitable, build new profitable growth businesses to safeguard the future of Posti Group and raise the firm to the level of a stock-listed company. All three objectives have been met,” Malinen stated.
“These years have included painful restructurings, but also great successes and brave renewal with the help of extremely competent employees. My deep gratitude goes out to them. Now I feel, that it is the right moment to say thank you and make space for a new person at the helm of the company.”
During his leadership Posti Group has transformed from a traditional business delivering letters and publications to an international level logistics company. Its strategy has been to focus on its core businesses and growth areas, namely, parcel, ecommerce and logistics.
“I feel sorry for the CEO's personal decision. The Board’s view is that Posti has been a well-run company during Heikki’s term and has developed into the right direction and the targets have been met. Our financial results and renewal show that the Posti’s strategy has been right considering the radical change in the industry. I would like to thank Heikki for his extensive contribution in driving Posti´s renewal and wish him all the success in the coming years,” said Markku Pohjola, Chairman of Board of Directors of Posti Group Corporation.
In response to the resignation, the company’s Board of Directors appointed Turkka Kuusisto, currently SVP, Parcel and eCommerce, as interim President and CEO. He has been a member of the Group’s Leadership Team since 2016.
“E-commerce trends and digitalization present Posti and its employees with new opportunities for growth. Together with Posti’s personnel we will continue renewing the company and seeking future growth especially in parcel and ecommerce as well as logistics,” Kuusisto said.
A process to recruit a new CEO has started immediately.
