The decision comes during one of the toughest periods in Duell’s recent history. The Nordic powersports and cycling distributor reported a 6.6% decline in net sales during the first half of fiscal 2026 and lowered its full-year guidance, now expecting a 9% organic sales decline.
Virtanen only joined Duell in January as logistics director before stepping into the interim CEO role the day after Miemois announced his departure. Rather than recruiting an external turnaround specialist, the board promoted a leader already working inside the company’s operational core.
An operator, not an outsider
Duell’s biggest challenges are tied closely to inventory management, supply chains, and working capital efficiency, areas where Virtanen has built much of his career. He brings experience in international operations, aftermarket distribution, and distributor sales.
Anna Hyvönen, chair of the board, said Virtanen’s operational background and international experience provide “an excellent foundation” for strengthening the company and executing its strategy.
The new direction is already visible. In April, Duell established a dedicated Supply Chain organization focused on improving net working capital management, a move that carries clear signs of Virtanen’s influence. For distributors, inventory discipline often determines whether weak demand becomes manageable pressure or a prolonged financial problem.
Growth ambitions remain intact
Duell still holds a significant market position. The company distributes more than 100,000 products from over 500 brands through roughly 8,500 dealers across the Nordic region and Europe. Net sales reached EUR 127 million in 2025.
Despite softer demand, the company has continued selective expansion. In April, Duell secured distribution rights for Quad Lock products across Finland, Sweden, and Norway. The company also strengthened its French operations, one of its target growth markets in Europe.
Virtanen now faces a straightforward but difficult mandate: stabilize operations, improve cash efficiency, and return the business to profitable growth.
The next quarters will show whether operational discipline can translate into a broader recovery.
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