Home / Knowledge / News / Apparel/Garments / CEO Hannu Penttilä to retire from Stockmann
CEO Hannu Penttilä to retire from Stockmann
23
May '14
Chief Executive Officer Hannu Penttilä has informed the Board of Directors of Stockmann plc that he will retire on 31 December 2014. Penttilä’s term was extended until further notice in spring 2013, as he had reached the retirement age specified in his service agreement.
 
”Hannu Penttilä’s career at Stockmann spans more than 35 years in various management positions, and his 13-year term as CEO has been exceptionally long. During that time Stockmann has been transformed from a company operating solely on the Finnish market into an international retail business.
 
"The acquisition of Lindex and the construction of the Nevsky Centre shopping centre in St Petersburg were bold and successful moves. I would like to extend my deepest thanks to Hannu at this stage already for his excellent work in developing the company,” says Kaj-Gustaf Bergh, Chairman of Stockmann’s Board of Directors.
 
The Board of Directors has decided to begin a process of reviewing and revising Stockmann’s existing strategy, the outcome of which could have a considerable impact on the present structure of the business operations. The aim is to approve a new Group strategy within the next six months. The process of acquiring a new CEO will proceed with the strategy work and will be linked to its outcome.
 
The Board will play an active role in leading the strategy process. Board member Kjell Sundström will be heading the strategy process. He has been employed by the company as Strategy Director with a fixed-term contract of 6 to 12 months. Sundström will report to the Chairman of the Board.
 
Maisa Romanainen, Director of the Department Store Division, and Göran Bille, Director of the Fashion Chain Division, are responsible for the strategy work in their respective divisions, together with the CFO, Pekka Vähähyyppä.
 

Stockmann Group

Must ReadView All

Apparel/Garments | On 18th Feb 2017

Bangladesh apparel sector has 95% local investors: BGMEA

Over 95 per cent of the total investors in the Bangladesh apparel...

Textiles | On 18th Feb 2017

Smriti Irani resolves cutting of carpets issue at ports

During a meeting held with stake holders of the carpet weaving...

Apparel/Garments | On 18th Feb 2017

Andhra Pradesh inks MoUs to set up 12 apparel units

At the recent CII Partnership Summit held in Hyderabad, memorandum of ...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search