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New CEO inherits growth and margin pressure
Sampo Päällysaho, former SVP of groceries at SOK, became chief executive of Tokmanni Group today, succeeding Mika Rautiainen after his eight-year tenure. He takes over the Nordic discount retailer as it prepares a new strategic and financial plan following the end of its previous strategy period.
The succession, first announced in July 2025, completed a year-long transition. Rautiainen retired after leading Tokmanni, one of Finland’s largest variety discount retailers, since 2018. Tokmanni operates the Tokmanni, Dollarstore, Big Dollar, Click Shoes, and Shoe House retail chains across Finland, Sweden, and Denmark.
In today’s press release, Päällysaho said he will focus on profitable growth by opening new stores, strengthening the assortment, improving execution and capturing further benefits from recent acquisitions. He also plans to spend his first months meeting employees across Finland, Sweden, and Denmark before finalizing the group's next strategy.
Effective July 6, Päällysaho also joined the boards of the Finnish Commerce Federation and the Finnish Grocery Trade Association and became vice chairman of Tokep Sourcing.
A new CEO takes over amid margin pressure
Päällysaho inherits a business that continued to grow in 2025 but saw profitability weaken. Revenue rose over 3% to EUR 1.7 billion, while comparable EBIT declined 15% to EUR 84.8 million as higher costs at its Swedish discount retailer chain Dollarstore offset record profitability in the Tokmanni segment. Comparable EBIT also finished just below the company's narrowed guidance range, highlighting the importance of improving margins as Tokmanni enters its next stage.
With Päällysaho, Tokmanni appointed a retail executive with nearly three decades of experience across grocery, consumer goods, and specialty retail. Päällysaho most recently served as SVP of groceries at SOK, the owner of retail brands Prisma, S-market, and Alepa, after previously leading its consumer goods business. Earlier, he was the managing director of Clas Ohlson Oy and held commercial leadership positions at Kesko.
Tokmanni highlighted Päällysaho’s experience in category management, sourcing, assortment development and omnichannel retailing as well suited to its current priorities, including expanding the SPAR grocery concept and strengthening sourcing across the group.
On his first day, Päällysaho emphasized the importance of the company's workforce: "The foundation of Tokmanni Group's success is its skilled personnel, and I look forward to getting to know my new colleagues and building the future together with them. Together, we will lead Tokmanni Group into its next strategy period."
Leadership team continues to evolve
Päällysaho joins a management team that has undergone significant changes over the past year. Chief Supply Chain Officer Nina Anttila joined the executive team in September 2025, while Chief Sourcing and Buying Officer Juha Valtonen departed in April 2026. He was succeeded by Janne Pihkala, previously chief strategy and development officer, who assumed the sourcing role on February 1, 2026.
The board also expanded from six to seven members at the 2026 annual general meeting, with Katarina Gabrielson and Jari Latvanen joining the board while Ulla Serlenius did not seek re-election.
What Tokmanni aims to accomplish: goals for the next chapter
Päällysaho's arrival marks the beginning of a new strategic cycle. Tokmanni's previous strategy period ended in 2025, and one of his first priorities will be setting new strategic and financial targets for 2026–2030, expected in the second half of 2026. The strategy will provide the first indication of how the new CEO plans to improve profitability while sustaining growth.
Management's priorities include expanding the store network, strengthening the product assortment, and improving the execution of integration initiatives following recent acquisitions. The company is also continuing the rollout of the Spar and Eurospar grocery concepts in Finland, while working to restore profitability at its Dollarstore business as it expands in Sweden and Denmark.
Tokmanni also remains committed to its science-based target of reducing absolute Scope 1 and 2 emissions by 42% by 2030 from a 2024 baseline.
Investor watchpoints
The new strategy and its financial targets will be the first major test of Päällysaho's leadership. Investors will also watch whether management can improve the Dollarstore brand’s profitability while maintaining Nordic expansion and whether the Spar rollout contributes to growth.
Capital allocation remains another key theme after the board withheld a second installment of the 2024 dividend to strengthen the balance sheet and fund investments, while completing a EUR 3 million share buyback in June 2026. Quarterly results throughout 2026 will provide the first evidence of progress under the new management team.
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