The latest developments at Dovre Group show that the Finnish project management and renewable-energy company has nearly rebuilt its entire leadership team in the second half of the year following a challenging financial period.

The acting CEO, Sanna Outa-Ollila, resigned in November after less than a year in the role. Interim CFO Timo Saarinen stepped in as acting CEO from 22 November and now holds both posts simultaneously. Saarinen, a finance leader who previously headed Saarikulma Oy and Visma Finland, joined Dovre in September.

At the board level, the overhaul has been just as significant. An extraordinary general meeting on 25 November reduced the board to three members. Ilari Koskelo was re-elected, while Aaron Michelin and Kalervo Rötsä joined as new directors. The board then appointed Rötsä as chair and Michelin as vice chair. Koskelo’s long tenure as vice chair, stretching back to 2008, came to an end as he moved into a standard member role.

The reshuffle follows a period of worsening financial performance. Despite being debt-free and holding short-term assets that exceed its liabilities, Dovre remains unprofitable. The advisory company that also builds solar and wind parks recorded a half-year loss of €5 million. Its updated guidance signals deeper trouble ahead: EBIT for Q3 alone is expected to come in around –€10 million, and full-year 2025 operating profit is now forecast to decline from 2024 rather than improve.

Taken together, the year’s changes amount to a near-complete reset. A new chair, a new vice chair, a reduced board, and an acting CEO juggling two roles point to a company in transition and under pressure. Whether this consolidated leadership can steady Dovre’s renewable-energy projects and return the company to profitability remains the central question for the year ahead.

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