Iiris Heiskanen, former CFO of Abloy Oy and a finance executive within ASSA Abloy’s Global Solutions division, has been appointed chief financial officer of Scanfil effective immediately, succeeding Kai Valo after a decade in the role.
The appointment caps a broader management refresh that has unfolded across the Finnish electronics manufacturing services group over the past year.
Heiskanen joined Scanfil in early 2025 as director of group reporting and tax and spent roughly sixteen months inside the organization before taking the finance helm. Her appointment also brings her into the group management team, replacing Valo, who has led Scanfil’s finance organization through a decade of expansion and operational modernization.
“Her strong drive, profound understanding of accounting and finance, and high ambitions make her an ideal person for this role,” CEO Christophe Sut said in the company’s announcement on 13 May.
A planned succession, not a reactive hire
The succession appears carefully staged rather than reactive. Sut described Valo as “the driving force behind the modernization of Scanfil’s finance function” and said he had built capabilities that now allow the role to pass “to one of his colleagues.” The wording matters. During Valo’s tenure, Scanfil evolved into a company now targeting EUR 940–1,060 million in annual turnover, with a larger international manufacturing footprint and rising operational complexity following acquisitions and expansion into new geographies.
That context helps explain the profile of the incoming CFO. Before joining Scanfil, Heiskanen spent more than seven years at Abloy Oy in finance roles before becoming CFO of ASSA Abloy’s Global Solutions division, later returning to Abloy as CFO from 2022 to 2025. The experience gave her exposure to multi-currency treasury management, cross-border reporting structures, and finance operations inside one of Europe’s largest industrial groups, capabilities increasingly relevant for Scanfil as it scales internationally.
Management renewal underway since 2025
The CFO transition is part of a wider reshaping of Scanfil’s leadership structure that has been underway since mid-2025. Teemu Ohtamaa joined the group management team in June 2025, while Christina Wiklund moved into a new role within the team. Riku Hynninen exited the management team in July, followed by Mari Tuominen-Reini joining in August. Heiskanen’s appointment now completes a year-long sequence of leadership changes that together suggest a company repositioning itself for a more expansionary phase rather than responding to operational disruption.
At the same time, the board has largely chosen continuity. At Scanfil’s annual general meeting on 24 April 2026, all six existing board members were re-elected, with Harri Takanen continuing as chair. The company also reorganized its audit committee, appointing Juha Räisänen as chair alongside Christina Lindstedt and Minna Yrjönmäki.
The pattern inside the finance organization is particularly notable. Both Ohtamaa and Heiskanen were executives already known internally before stepping into larger leadership responsibilities. Heiskanen’s sixteen-month progression from director of group reporting and tax to CFO suggests the succession decision may have been under evaluation long before it became public.
Commercial momentum raises the stakes for finance
Commercial momentum has continued alongside the management transition. On the same day as Heiskanen’s appointment, Scanfil disclosed a new EUR 25 million supply agreement with an unnamed industrial automation customer belonging to a global technology group. The contract sits within the company’s Energy & Cleantech segment and carries potential for additional volume growth over the next three years.
“This agreement demonstrates Scanfil’s strong capabilities in electronics manufacturing,” said Lars Skanke, sales & account management director, energy & cleantech. “It also supports our strategy to grow with global customers by leveraging our international manufacturing network.”
The agreement fits a broader strategic pattern already visible in Scanfil’s recent moves. The company has been anchoring global customers within emerging production geographies, particularly in Southeast Asia, where the earlier Laerdal Medical manufacturing agreement strengthened operations in Johor Bahru, Malaysia. Energy & Cleantech, alongside Medtech & Life Science and Aerospace & Defense, has emerged as one of Scanfil’s fastest-growing verticals.
The financial backdrop facing Heiskanen is more demanding than the one inherited by her predecessor a decade ago. Scanfil’s net debt-to-EBITDA ratio climbed to 1.57 in the first quarter of 2026 from 0.22 a year earlier following acquisition activity, including the expansion around MB Elettronica. The company will host its September 2026 Capital Markets Day at MB Elettronica’s facility in Italy, signaling that Central Europe and the US market opportunities are expected to play a larger role in the next phase of growth.
Whether Heiskanen’s mandate proves primarily consolidatory, tightening capital discipline after a period of expansion, or more aggressively growth-oriented will likely become clearer later this year. But the structure of the succession already sends a message of its own: Scanfil believes the finance organization Valo spent a decade building is mature enough to produce its next CFO from within.
What Scanfil is aiming to accomplish | |
|---|---|
Cross EUR 1 billion in annual turnover in 2026 | The company’s full-year guidance of EUR 940–1,060 million is backed by Q1 organic growth of 6.5% and acquisition contributions. |
Scale the MB Elettronica acquisition | The September 2026 Capital Markets Day will be held at the MB Elettronica plant in Italy, signalling a deep dive into Central Europe and US market opportunities. |
Grow through key verticals | Energy & Cleantech, Medtech & Life Science, and Aerospace & Defense. The EUR 25 million automation deal reinforces Energy & Cleantech momentum. |
Maintain a disciplined capital structure | Net debt/EBITDA climbed to 1.57 in Q1 2026 from 0.22 a year earlier. The new CFO’s background points to active balance-sheet management. |
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Iiris Heiskanen, former CFO of Abloy Oy and a finance executive within ASSA Abloy’s Global Solutions division, has been appointed chief financial officer of Scanfil effective immediately, succeeding Kai Valo after a decade in the role.
The appointment caps a broader management refresh that has unfolded across the Finnish electronics manufacturing services group over the past year.
Heiskanen joined Scanfil in early 2025 as director of group reporting and tax and spent roughly sixteen months inside the organization before taking the finance helm. Her appointment also brings her into the group management team, replacing Valo, who has led Scanfil’s finance organization through a decade of expansion and operational modernization.
“Her strong drive, profound understanding of accounting and finance, and high ambitions make her an ideal person for this role,” CEO Christophe Sut said in the company’s announcement on 13 May.
A planned succession, not a reactive hire
The succession appears carefully staged rather than reactive. Sut described Valo as “the driving force behind the modernization of Scanfil’s finance function” and said he had built capabilities that now allow the role to pass “to one of his colleagues.” The wording matters. During Valo’s tenure, Scanfil evolved into a company now targeting EUR 940–1,060 million in annual turnover, with a larger international manufacturing footprint and rising operational complexity following acquisitions and expansion into new geographies.
That context helps explain the profile of the incoming CFO. Before joining Scanfil, Heiskanen spent more than seven years at Abloy Oy in finance roles before becoming CFO of ASSA Abloy’s Global Solutions division, later returning to Abloy as CFO from 2022 to 2025. The experience gave her exposure to multi-currency treasury management, cross-border reporting structures, and finance operations inside one of Europe’s largest industrial groups, capabilities increasingly relevant for Scanfil as it scales internationally.
Management renewal underway since 2025
The CFO transition is part of a wider reshaping of Scanfil’s leadership structure that has been underway since mid-2025. Teemu Ohtamaa joined the group management team in June 2025, while Christina Wiklund moved into a new role within the team. Riku Hynninen exited the management team in July, followed by Mari Tuominen-Reini joining in August. Heiskanen’s appointment now completes a year-long sequence of leadership changes that together suggest a company repositioning itself for a more expansionary phase rather than responding to operational disruption.
At the same time, the board has largely chosen continuity. At Scanfil’s annual general meeting on 24 April 2026, all six existing board members were re-elected, with Harri Takanen continuing as chair. The company also reorganized its audit committee, appointing Juha Räisänen as chair alongside Christina Lindstedt and Minna Yrjönmäki.
The pattern inside the finance organization is particularly notable. Both Ohtamaa and Heiskanen were executives already known internally before stepping into larger leadership responsibilities. Heiskanen’s sixteen-month progression from director of group reporting and tax to CFO suggests the succession decision may have been under evaluation long before it became public.
Commercial momentum raises the stakes for finance
Commercial momentum has continued alongside the management transition. On the same day as Heiskanen’s appointment, Scanfil disclosed a new EUR 25 million supply agreement with an unnamed industrial automation customer belonging to a global technology group. The contract sits within the company’s Energy & Cleantech segment and carries potential for additional volume growth over the next three years.
“This agreement demonstrates Scanfil’s strong capabilities in electronics manufacturing,” said Lars Skanke, sales & account management director, energy & cleantech. “It also supports our strategy to grow with global customers by leveraging our international manufacturing network.”
The agreement fits a broader strategic pattern already visible in Scanfil’s recent moves. The company has been anchoring global customers within emerging production geographies, particularly in Southeast Asia, where the earlier Laerdal Medical manufacturing agreement strengthened operations in Johor Bahru, Malaysia. Energy & Cleantech, alongside Medtech & Life Science and Aerospace & Defense, has emerged as one of Scanfil’s fastest-growing verticals.
The financial backdrop facing Heiskanen is more demanding than the one inherited by her predecessor a decade ago. Scanfil’s net debt-to-EBITDA ratio climbed to 1.57 in the first quarter of 2026 from 0.22 a year earlier following acquisition activity, including the expansion around MB Elettronica. The company will host its September 2026 Capital Markets Day at MB Elettronica’s facility in Italy, signaling that Central Europe and the US market opportunities are expected to play a larger role in the next phase of growth.
Whether Heiskanen’s mandate proves primarily consolidatory, tightening capital discipline after a period of expansion, or more aggressively growth-oriented will likely become clearer later this year. But the structure of the succession already sends a message of its own: Scanfil believes the finance organization Valo spent a decade building is mature enough to produce its next CFO from within.
What Scanfil is aiming to accomplish | |
|---|---|
Cross EUR 1 billion in annual turnover in 2026 | The company’s full-year guidance of EUR 940–1,060 million is backed by Q1 organic growth of 6.5% and acquisition contributions. |
Scale the MB Elettronica acquisition | The September 2026 Capital Markets Day will be held at the MB Elettronica plant in Italy, signalling a deep dive into Central Europe and US market opportunities. |
Grow through key verticals | Energy & Cleantech, Medtech & Life Science, and Aerospace & Defense. The EUR 25 million automation deal reinforces Energy & Cleantech momentum. |
Maintain a disciplined capital structure | Net debt/EBITDA climbed to 1.57 in Q1 2026 from 0.22 a year earlier. The new CFO’s background points to active balance-sheet management. |
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