CEO changes

Kenneth Wahlqvist leaves, Veli Taatila covers the interim, and Per Anders Quist arrives on 19 October from the agency that awarded Kreate Sverige its largest contract.

Kreate Group's subsidiary Kreate Sverige AB has appointed Per Anders Quist as chief executive officer, effective 19 October 2026. The company says the appointment is meant to support continued growth in Sweden and strengthen its position in the Nordic region, and notes that Kreate has already reached the target level set for its Swedish operations under the 2024–2027 strategy period, ahead of schedule. 

Quist joins from the Swedish Transport Administration, Trafikverket, where, according to the announcement, he was responsible for billion-scale infrastructure projects. He has more than 30 years of experience in infrastructure construction and has led major road, tunnel and other infrastructure projects in Sweden and Norway, including more than ten years at NCC in leadership roles in Norway and a board seat at NCC Norge AS. 

President and CEO Timo Vikström framed the hire around Kreate's next growth phase: "In Sweden, we have already reached a level that, a few years ago, we expected to achieve only in 2027. We intend to continue growing in the coming years. Per Anders' exceptionally broad experience in infrastructure construction from both the contractor's and the client's perspective provides him with excellent qualifications for the role. In addition, his straightforward and determined approach is a strong fit with Kreate's culture. We believe he is the right person to lead Kreate Sverige through its next phase of growth." 

Quist himself pointed to Norway as the next frontier: "Kreate has built a strong foundation for growth in Sweden. I see significant opportunities to continue growing the business in Sweden, while the Norwegian market also offers interesting opportunities. I look forward to developing our operations together with our employees and customers." The release notes Kreate currently explores Norway on a project-by-project basis and that Quist's Norwegian background supports a more permanent presence there. 

Outgoing CEO Kenneth Wahlqvist is leaving to pursue opportunities outside the company. Veli Taatila, Kreate Sverige's first CEO, will serve as interim CEO until Quist starts. 

The appointment lands on top of a record quarter

The Sweden CEO change follows weeks after Kreate's largest-ever Swedish contract and a group-wide guidance upgrade, the timing places a leadership change on top of the strongest operating momentum the unit has shown to date.

Kreate Group's April–June 2026 EBITA rose to EUR 9.3 million, or 5.0% of revenue, up from EUR 2.2 million, or 3.0% of revenue, a year earlier. Revenue for the quarter rose 152.3% to EUR 185.4 million, and the order backlog grew 215.2% to a record EUR 885.8 million. Much of that jump is acquisition-driven: KFS Finland Oy has been consolidated as a subsidiary since 1 April 2026, meaning the comparison is not like-for-like with the same quarter in 2025, when Kreate's full-year revenue was EUR 315 million. The half-year report attributes the broader growth to organizational scaling and strategic priorities including Sweden expansion, but Sweden itself, as the numbers below show, remains a small fraction of the group.Revenue for the quarter rose 152.3% to EUR 185.4 million, and the order backlog grew 215.2% to a record EUR 885.8 million. The company's half-year report linked the growth to organizational scaling and strategic priorities including Sweden expansion, and separately noted that KFS Finland Oy has been consolidated as a subsidiary since 1 April 2026.

On 16 June 2026, Kreate raised its full-year 2026 guidance to EUR 600–650 million in revenue and EUR 21–26 million in EBITA, up from a prior range of EUR 510–550 million and EUR 18–22 million, citing efficient project execution and stronger-than-expected order book development. A day after, Kreate Sverige had secured roughly SEK 320 million (about €30M) subcontract for the Lundby Tunnel renovation in Gothenburg, its largest contract to date, with Vikström saying, “We have systematically grown our business in Sweden, and the Lundby Tunnel contract is proof of our Swedish organisation’s ability to participate in increasingly larger projects based on its own special expertise. In line with our strategy, Sweden is developing into a second strong geographical pillar for the Group.”

Leadership transition comes as cybersecurity firm works to restore profitability

Rami Raulas will retire as chief executive of SSH Communications Security Oyj after less than three years in the role, with the board launching a search for his successor as the Helsinki-listed cybersecurity company works to restore profitability while expanding its recurring software business and strengthening its position in defense and critical infrastructure.

Raulas will remain CEO until a replacement is appointed, ensuring continuity, SSH announced recently. The search will consider both internal and external candidates with the support of an external advisor. 

SSH Communications Security is a Helsinki-listed cybersecurity company specializing in privileged access management and quantum-safe network security. The company is expanding its presence in defense and critical infrastructure, supported by a strategic partnership with Italian defense group Leonardo, its largest shareholder following a EUR 20 million investment in 2025.

The board credited Raulas with strengthening SSH's strategic position. Board Chair Henri Österlund said Raulas helped strengthen SSH's position in defense and critical infrastructure, including the company's strategic partnership with Leonardo. 

Raulas said it had been "a privilege" to lead SSH over the past two and a half years, adding that the company had built momentum in its chosen markets and was on the right path.

The CEO change coincides with weaker earnings despite continued revenue growth. Second-quarter net sales rose almost 7% to EUR 5.7 million and first-half revenue increased almost 3% to EUR 11.1 million, but first-half EBITDA turned to a EUR 0.4 million loss from a EUR 0.6 million profit a year earlier. Subscription annual recurring revenue grew over 14% to EUR 14.8 million, while PrivX, its platform for securing privileged access to critical systems, expanded more than 25% to become the company's largest business area.

What SSH is trying to accomplish

SSH's strategy is centered on building a larger recurring software business while capitalizing on growing cybersecurity demand from defense, public-sector and critical infrastructure customers. Subscription ARR has continued to expand, as the company shifts its revenue mix away from traditional license sales.

A key priority is converting its strategic partnership with Italian defense group Leonardo into revenue. SSH expects the partnership to contribute more meaningfully during 2026 after integration work and personnel training delayed the commercial rollout. Management has repeatedly identified the relationship as a long-term growth driver.

SSH continues to expand PrivX. The company continues to add capabilities for non-human identities and agentic AI workloads while expanding deployments across financial services, energy, government, telecommunications, aviation, defense and manufacturing. At the same time, SSH is investing in quantum-safe network security as a longer-term growth opportunity.

The company now faces the challenge of delivering those growth ambitions while restoring profitability after first-half EBITDA turned negative. Growing recurring revenue, commercializing the Leonardo partnership and restoring margins are likely to remain the company's principal priorities over the coming quarters.

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."

Aarne Simula, Wetteri's largest shareholder and former CEO, has returned as chief executive officer with immediate effect after Pietu Parikka stepped down by mutual agreement. Simula will forgo his CEO salary until August 2027 as he leads the automotive retailer's plan to restore profitability through higher new-car sales and industry consolidation.

Parikka had served as CEO for less than 11 months after succeeding Simula last August. As part of the leadership changes, Mika Aho was elected chairman, replacing Simula, who had held the role since the May AGM, according to Wetteri’s press release from yesterday. Simula remains a member of the board while serving as CEO. 

The board is bringing back a familiar operator as Wetteri enters the execution phase of its 2026-2028 strategy. After a loss-making first quarter, management is seeking to restore profitability by increasing new-car sales, expanding its used-car business through trade-ins, and pursuing acquisitions in Finland's consolidating automotive retail market.

Veteran executive returns to lead next phase

Simula, 61, brings more than four decades of automotive industry experience. He led Wetteri Oy from 2008 and became CEO of the listed group in 2022 before stepping aside last year to remain the company's largest shareholder, board member, and adviser to management.

Chairman Mika Aho said the board believes Simula's experience, manufacturer relationships, and knowledge of Wetteri's operations will accelerate execution of the company's strategy for profitable growth.

"Over his long career, Aarne has gained an exceptionally strong and wide-ranging understanding of the car business and of the strengths of Wetteri's operations," Aho said.

Simula has also agreed to forgo CEO salary until Aug. 1, 2027, with the board approving the arrangement.

What Wetteri is trying to accomplish

Simula returns to accelerate Wetteri's existing 2026-2028 "Ohittamaton (Unbeatable)" strategy rather than introduce a new one. The plan centers on growing new-car sales to generate more trade-in vehicles for the used-car business, improving profitability, and pursuing consolidation in Finland's fragmented automotive retail market.

The company targets annual organic revenue growth of more than 10%, adjusted operating profit of 3% of revenue, an equity ratio of at least 25%, and doubling used-car sales from 2025 levels. The strategy follows a 2025 restructuring expected to generate about EUR 4 million in annual cost savings and is supported by expansion initiatives, including new Mazda operations in Kuopio, the Sports Car Center Airport Helsinki maintenance acquisition, and strong growth in used EV sales.

"The volume of car sales is growing, and Wetteri offers the country's best brands across a nationwide sales network. We are therefore now directing our resources towards growing new car sales," Simula said.