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Pauli Anttila begins CEO term at EcoUp as strategy shifts from promise to delivery

Jan 5, 2026

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EcoUp Oyj

Pauli Anttila

EcoUp

Pauli Anttila has started steering EcoUp as its new chief executive officer, aiming to deliver a profit turnaround as the circular economy company enters a new strategy period.

Anttila is promoted from within. He has served as EcoUp’s CFO since January 2025 and will, at least initially, continue to hold responsibility for finance alongside the CEO role, according to the company that makes insulation materials and has built a technology to recycle construction waste.

Anttila brings a capital markets and ownership background that is relatively uncommon for a company of EcoUp’s size. Before joining EcoUp, he spent nearly 15 years at Solidium, the Finnish state investment company, most recently as investment director and a member of the management team. He has also worked in corporate finance at Deloitte and currently sits on the board of Konecranes.

The leadership change also reshuffles governance at the top. On January 1, the previous CEO, Matti Kaski, who wished to step down from his CEO duties, returned to the role of chair of the board, a position he held before becoming chief executive in 2022.

The timing of Anttila’s appointment is closely linked to EcoUp’s updated medium-term targets for 2026–2028. After canceling its earlier 2026 targets, citing weak recovery of the detached housing market, the company is now aiming for insulation business revenue above €40 million and an EBITDA margin exceeding 10 percent by 2028. In its technology business, the immediate goal is more modest but crucial: turning operating cash flow positive by the end of 2026.

In his first public comments as incoming CEO, Anttila set a pragmatic tone. Growth is on the agenda, but so is realism about the company’s current performance.

“We cannot be satisfied with the company’s current profitability, and it is of primary importance that we succeed in delivering a turnaround in profitability,” said Anttila. He highlighted profitable growth in Sweden, commercialization of the technology business, and continued development of the core Finnish insulation business as the main priorities.

Authors

Emmi Laine

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.