Incap Corporation has promoted three executives and added a new C-suite position as the Finnish electronics manufacturing services group reorganizes its leadership around regional operations following a series of acquisitions.

Murthy Munipalli was appointed regional president Asia Pacific, Dr. Ralf Hasler was named regional president Europe, and Helena Maripuu became chief corporate affairs officer and joined the management team. President and CEO Otto Pukk will also assume responsibility for the Americas and the rest of the world until a regional president is appointed, the company announced today.

The changes reflect the growing scale of Incap's business following several acquisitions, most recently Germany-based Lacon Group, which added operations in Germany and Romania and more than 600 employees. Munipalli will retain his role as managing director of Incap India until a successor is appointed, while Hasler will continue as managing director of the German and Romanian operations during the transition. Incap employs more than 3,000 people across Europe, Asia, and North America.

"As a result of our acquisitions in the past few years, we operate on a broader geographical scale than before," CEO Pukk said. "Organising our management structure by regions on the group level supports more effective leadership, enables us to manage the company in a more efficient way and supports the execution of our growth strategy and decentralised business model."

Regional structure aligns leadership with growth priorities

The restructuring replaces a country-based operations model with three geographic regions: Asia Pacific, Europe, and the Americas. The move comes as Incap integrates Lacon and prepares an updated group strategy expected later this year.

Munipalli's promotion places one of Incap's longest-serving executives in charge of the company's largest operational region. India accounted for almost three-quarters of the group's workforce at the end of 2025 and hosts three production facilities, making Asia Pacific the backbone of Incap's manufacturing network. Munipalli joined the company in 2008 and previously served as director of operations, India, and sales APAC.

Hasler's appointment underscores the importance of Europe following the Lacon acquisition. Europe generated EUR 125.2 million of revenue in 2025, making it Incap's largest customer market, while the acquisition established a platform for further expansion in Germany, Europe's largest EMS market. Hasler joined Incap's management team in February after the acquisition closed and previously served as CEO of Lacon.

Pukk will oversee the Americas on an interim basis. While operationally smaller than Europe and Asia Pacific, North America generated EUR 63.7 million of revenue in 2025, up from EUR 44.6 million a year earlier, highlighting the region's growing importance to the group.

The leadership changes follow a period of mixed financial performance. First-quarter 2026 revenue rose 7% year-over-year to EUR 56 million, while comparable EBITA declined 14% as foreign exchange headwinds and component availability issues weighed on profitability. Incap expects both revenue and comparable EBITA to increase in 2026, supported by the contribution from Lacon.

Separately, Director of Operations UK Jamie Maughan is expected to leave the company by the third quarter of 2026 after resigning earlier this year.