Mäki has led Apetit since autumn 2019, a tenure of more than seven years. “For personal reasons, I reached the decision to resign after several months of consideration,” he says in the release.
Mäki resigns before the 2026 to 2028 strategy reaches its targets
In December 2025, Apetit published its 2026 to 2028 strategy, focused on frozen peas, the Swedish market and BlackGrain rapeseed products, with targets of operating profit above EUR 10 million and return on capital employed above 7% by 2028. Mäki said at the time that early investments would weigh on results before profitability improved. A month earlier, Apetit had completed its acquisition of Swedish frozen pea producer Foodhills.
“The change of CEO will not affect the strategy: Apetit is targeting growth, in which we are investing strongly and boldly,” says Kai Seikku, who became Chairman of the Board at the April AGM.
Apetit has cut its 2026 profit guidance twice
In April, Apetit lowered its guidance, citing costs from taking over the Foodhills business and about EUR 2.3 million in one-off costs and write-downs from closing its Pudasjärvi frozen pizza factory. In August, it cut guidance again to an operating result of EUR -2.0 million to EUR +1.0 million, against a comparable EUR 5.9 million in 2025, after drought reduced frozen pea yields in its Swedish contract growing area.
The Pudasjärvi decision followed change negotiations that ended on 13 April. Production at the factory continues until the end of 2026, after which the duties of its 21 permanent employees will end, and Apetit’s frozen pizzas will move to contract manufacturing in Finland. Apetit expects annual cost savings of about EUR 0.7 million from 2027 and says the closure reduces its one-off investment needs over the next few years by about EUR 3 million.
Q3 2026 operating result rose 55% to EUR 5.0 million on a record frozen pea crop in Finland, but the January to September operating result was EUR -0.9 million, on net sales up 1% to EUR 126.1 million.
Two other management team roles have changed hands this year
Martin Jönsson became CEO of Apetit’s Swedish operations on 2 March, succeeding Karl Vilhelm Beckman. Production director Ari Kulmala, on the management team since 2019, resigned in March and leaves at the end of 2026, with Timo Mustaniemi taking over the role from 1 September.
Apetit’s management team has expanded and changed this year
On 1 January, Apetit expanded its management team to eight members, adding HR Director Sari Valonen, Communications and Sustainability Director Miika Kemilä and Karl Vilhelm Beckman, CEO of the Swedish operations, who had led Foodhills since 2019. Martin Jönsson succeeded Beckman as head of the Swedish operations on 2 March. Production director Ari Kulmala, on the management team since 2019, resigned in March and leaves at the end of 2026, with Timo Mustaniemi taking over the role from 1 September.
Mäki’s commitment to stay until the end of May 2027 gives the board about seven months to find a successor before he steps aside.
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