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Two senior departures leave strategy and pureplay leadership unresolved
Sami Tanner, head of strategy at Musti Group, will leave the Nordic pet care retailer in autumn 2026 after serving on its group management team since 2018, as the company works to integrate its Portuguese acquisition and sustain double-digit growth.
Tanner is leaving to pursue a role outside the company and will remain through autumn to support the transition, Musti announced recently.
His departure follows the April announcement that Annamaija Hujala, head of Group Pureplay, will also exit at the end of September, leaving two vacancies in Musti's ten-member management team. The company has not named successors or said whether either role will be replaced or restructured.
CEO David Rönnberg thanked Tanner for his contribution during his eight years on the management team. "I would like to express my warmest thanks to Sami for his extensive contribution at Musti Group and wish him all the best in his future endeavours," Rönnberg said.
Musti Group, a Nordic pet care retailer operating across seven markets, is expanding following its acquisition of Portuguese chain ZU, whose General Manager Tobias Azevedo joined the group management team after the deal closed in late 2025. The acquisition contributed EUR 8.4 million of revenue in the first quarter of 2026 as the company continued integrating the business while expanding its store, veterinary, and grooming network.
What Musti is trying to accomplish
Musti is expanding its omnichannel pet care business across seven markets while integrating Portuguese retailer ZU. The deal added veterinary clinics and grooming spas to the group's footprint, and the appointment of ZU General Manager Tobias Azevedo to the group management team underscores the importance of embedding the Portuguese business into the company's long-term operations.
Another priority is increasing production of own-brand pet food to strengthen margins through greater vertical integration. Gross margin improved to 44 percent in the first quarter from 43 percent a year earlier, which the company attributed to a higher share of own-brand products manufactured in its own factory.
At the same time, Musti is investing in its technology backbone, optimizing its product assortment and services, and expanding geographically to outpace the broader pet care market. CEO David Rönnberg said the first-quarter performance reinforced confidence that these initiatives would continue to drive market share gains and profitable growth.
The company has so far balanced expansion with earnings growth. First-quarter 2026 net sales increased 16 percent year over year to EUR 138.5 million, while adjusted EBITDA rose 12 percent to EUR 14.2 million despite continued investment in infrastructure and the ZU integration. Full-year 2025 revenue reached EUR 508.9 million, up 14 percent, marking a return to double-digit annual growth.
Investor watchpoints
The immediate question is succession. Musti has yet to announce replacements for either Tanner or Hujala, leaving uncertainty over whether the company will refill both positions, consolidate responsibilities or reshape the management structure.
Investors will also be watching the execution of the ZU integration. With the Portuguese business already contributing EUR 8.4 million in quarterly revenue and represented on the group management team, Tanner's departure raises questions about who will lead the long-term strategic integration of Musti's largest recent acquisition.
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