Altia Replacing its CEO

The Board of Directors of Altia Plc, a wine and spirits company in the Nordic and Baltic countries, has decided to replace CEO Antti Pankakoski. Pankakoski has served as CEO since 2007 and he was stepping down today.
 
”Altia has recently clearly fallen behind its financial targets and lost market share. Performance has decreased during the past two years. The company needs new leadership to meet the set goals in challenging market and operational environment,” says Chairman of the Board Matti Tikkakoski.
 
The Board of Directors has initiated the search for a new CEO. Member of the Executive Management Team, Senior Vice President Hannu Tuominen will take over the CEO’s responsibilities until the vacancy is filled.
 
“We want to thank Antti Pankakoski for his long‑term efforts and dedication into developing Altia a leading alcoholic beverage company in the Nordic and Baltic countries,” adds Tikkakoski.
 
Altia is the leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia produces, markets, sells, imports and exports alcoholic beverages in its market area. Altia serves its consumers, customers and partners close to markets with its wide production, sales and logistic set-up. Annual net sales amounts to approximately 500 million euro and the total number of personnel is approximately 1,100.
 
Altia’s own brands such as Blossa, Chill Out, Explorer, Grönstedts, Koskenkorva, O.P. Anderson, Renault, Larsen, Skåne Akvavit and Xanté and have a strong market position and a long heritage to cherish. Altia’s partner brands represent both local and international brands from all over the world, such as Codorníu, Drostdy-Hof, Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood and Robert Mondavi.
 
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