Leaders

Duell cuts management team from seven to four as CEO reshapes leadership

Jul 2, 2026

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Duell Corporation

Duell has streamlined its management team as the Finnish powersports distributor accelerates a broader organizational reset under CEO Tomi Virtanen.

Effective July 1, the management team has been reduced from seven members to four. It now consists of Virtanen, Chief Financial Officer Caj Malmsten, Chief Digital Officer Heidi Markkanen, and Supply Chain Director Jukka Smolander. Virtanen will also assume a more active role in sales management as Duell pursues a leaner operating model centered on supply chain management and digital services, the company announced yesterday.

Duell added that Commercial Director Jarkko Ämmälä, UK Managing Director Pete Lloyd, France Managing Director Jean Marc Autheman, and Customer Service, Marketing and Communications Director Marianna Kiviranta will report directly to the CEO. Investor Relations Director Pellervo Hämäläinen will report to the CFO.

The restructuring is the latest step in a period of sustained leadership change. Last month, Listeds reported that Chief People Officer Anne May Asplund will leave the company in September, marking the fourth senior leadership appointment or departure in 10 months. Those changes followed the departure of former CEO Karl Magnus Miemois in March, Virtanen's appointment as interim CEO and confirmation as permanent CEO in May, and the appointment of new leadership for Duell's French business.

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The leadership changes come as Duell's performance shows signs of stabilizing. In the March to May quarter, net sales increased 4% year over year to EUR 39.5 million, while adjusted EBITA remained broadly stable at EUR 2 million. Net working capital also improved to EUR 51.7 million, reflecting the company's focus on operational efficiency.

For investors, the latest changes reinforce Virtanen's strategy of simplifying decision-making and concentrating leadership around the functions most critical to improving execution and restoring profitable growth. Duell generated EUR 127 million in revenue in 2025 and serves around 8,500 dealers across Europe.

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Authors

Emmi Laine

Journalist

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.