Virtanen fills a role held on an acting basis by Head of Financial Business Support Lassi Rajala since 15 September, when CFO Mika Saarinen decided to leave the company.
Virtanen arrives with eight years as a CEO and a listed-company CFO record
Virtanen was CEO of Yliopiston Apteekki, the pharmacy owned by the University of Helsinki, from 2018 to 2026. Before that, he held senior roles at Oriola, including Group CFO and Managing Director of its businesses in Finland, Sweden and the Baltics, and was CFO of Componenta. Earlier in his career, he held financial management positions at Danisco and Cultor.
The hire largely fits a pattern Listeds identified in August: none of the ten CFOs appointed at Nasdaq Helsinki and First North companies between December 2025 and August 2026 was an internal promotion or a first-time CFO. Virtanen is an outside hire with listed-company CFO experience, but unlike those ten, he arrives from a CEO’s chair rather than another company’s finance seat.
“Kimmo brings to Raisio extensive experience in financial and business management, as well as a strong background in publicly listed companies,” says Elli Siltala, CEO of Raisio.
Raisio’s CEO, CFO and board chair have all changed since May
In May, CEO Pasi Flinkman said he would leave Raisio for another company. Siltala, previously Chief Loyalty and Media Officer at SOK and earlier a senior executive at Valio, took over in September. On 6 November, Tiitinen resigned as chair for personal reasons, and the board elected Leena Niemistö, a director since 2017, to chair it until the April 2027 AGM.
In October, Raisio moved M&A Director Anni Palmio to report directly to the CEO, saying the change strengthens the role of acquisitions in its growth strategy.
Virtanen joins as Raisio expects 2026 profit to be flat or slightly lower
Raisio now expects 2026 net sales to be at the 2025 level and comparable EBIT to be at the 2025 level or slightly lower, having previously guided for growth in both. It cited weaker-than-expected sales towards the end of the year and higher-than-anticipated costs for its ongoing ERP project. January to September net sales rose 1.3% to EUR 171.3 million, while comparable EBIT fell to EUR 21.5 million from EUR 22.7 million.
“I am very excited to join Raisio and contribute my experience and expertise to the development of the company and its business operations,” says Kimmo Virtanen.
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