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Finance chief exits as Tieto advances leadership reset and 2026–2028 transformation
Tomi Hyryläinen, chief financial officer of Tieto, will leave the software and digital-engineering company at the end of December 2026 after nearly eight years in the role, opening a search for his successor as the company advances its software-led strategy and works toward its 2026–2028 financial targets.
Hyryläinen decided to leave on his own initiative to pursue opportunities outside the company and will remain on the group executive team through December to ensure an orderly handover, Tieto announced yesterday.
The search for a new chief financial officer begins immediately. Hyryläinen’s departure follows a board refresh, a series of executive team changes and the appointment of a new chief executive over the past year.
One of the architects of Tieto's transformation
Hyryläinen joined Tieto in 2018 from PricewaterhouseCoopers, where he served as assurance leader and partner. Born in 1970, he holds an MSc (Econ.) from the Helsinki School of Economics and Business Administration and has worked internationally, including in Sweden and Silicon Valley.
During Hyryläinen’s tenure at Tieto, he helped oversee the company’s transformation from Tietoevry into a more focused software and digital-engineering business. The group divested its Tech Services business, adopted the renewed Tieto brand, and reorganized around four businesses: Tieto Banktech, Tieto Caretech, Tieto Indtech, and Tieto Tech Consulting.
President & CEO Endre Rangnes credited Hyryläinen with playing a central role in the transformation. "I would like to thank Tomi for his leadership and commitment in driving the strategic transformation of Tieto. His finance leadership capabilities combined with solid business understanding have been highly valued and recognized across the company. I wish Tomi every success in his future endeavors," Rangnes said.
Leadership transition continues
The finance succession is the latest step in a wider leadership overhaul. Kimmo Alkio stepped down as chief executive in May 2025, with board member Endre Rangnes initially taking over on an interim basis before becoming permanent president and CEO. In May 2026, Bent Phillipps became interim managing director of Tieto Indtech, Johan Enger Nygaard moved to interim managing director of Tieto Tech Consulting, and Pär Johansson left the group executive team.
Hyryläinen's departure removes one of the longest-serving executives from the leadership team that led the company's transformation and leaves another key appointment to complete as management implements its new strategy.
What Tieto is trying to accomplish
Management has positioned 2026 as a transition year following the sale of the Tech Services business and the simplification of the group into four software-focused businesses. The strategy is to build a more focused software and digital-engineering company with stronger profitability, a simpler operating model, and greater exposure to software and consulting markets.
The company has set financial targets for 2026–2028 that the incoming CFO will inherit. Tieto is targeting annual revenue growth of more than 5% in 2027 and 2028 after a flat-to-slightly-negative 2026, while lifting its adjusted operating margin above 16% by 2028 from 13.8% in 2025. It also plans to complete a EUR 130 million cost optimization program by the end of 2026 and maintain net debt below two times EBITDA.
Management's strategy rests on four priorities: putting customers first, simplifying the business, pursuing selective expansion, and maintaining a competitive cost base. Portfolio reshaping has continued alongside the new strategy, with the sale of Bekk Consulting in Norway and two software businesses to EG, while acquisitions of OpenSpring and GrupoOnetec have expanded the company's presence in Spain.
Early progress has been encouraging. Tieto reported adjusted operating profit of EUR 256.5 million in 2025, up from EUR 225.4 million a year earlier, despite a 1% decline in revenue to EUR 1.85 billion. The company described the first quarter of 2026 as showing strong profitability and solid software performance. Capital returns remain a priority, with a EUR 150 million share buyback running through March 2027 and 810,000 repurchased shares cancelled in late June.
Moreover, Tieto is reshaping its listing structure. Following the March 2026 name change from Tietoevry Oyj to Tieto Oyj, the company has proposed delisting from Oslo Børs and is evaluating a potential delisting from Nasdaq Stockholm, leaving Nasdaq Helsinki as its primary trading venue.
Investor watchpoints
CFO succession: Whether Tieto appoints an internal or external successor ahead of Hyryläinen's departure at the end of December 2026.
Margin delivery: Progress toward lifting the adjusted operating margin above 16% by 2028 while completing the EUR 130 million cost optimization program.
Portfolio execution: Whether management continues to reshape the business through acquisitions and divestments in support of its software-led strategy.
Listing structure: The proposed Oslo Børs delisting and review of a Nasdaq Stockholm delisting, concentrating trading in Helsinki.
Capital returns: Progress on the EUR 150 million share buyback and any further share cancellations.
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