In a stock exchange release Amer Sports – the owner of brands such as Mavic and Suunto – has confirmed that its Senior Vice President of Finance, Jussi Siitonen has been appointed new CFO (Chief Financial Officer) of the company, effective on 1 January 2011.
At this time, the current CFO, Executive Vice President Pekka Paalanne will retire.
At the same time, Siitonen will become a member of the Executive Board. He will report to Amer Sports’ President and CEO Heikki Takala.
Siitonen joined Amer Sports on 1 December 2009 from Stora Enso Oyj where he worked in several finance, controlling and project management positions for 18 years.
Retiring CFO Pekka Paalanne joined Amer Sports in 1997. He has been the deputy CEO since 2004 and the Executive Vice President since 2007.
"We want to thank Pekka for his great contribution to the company,” said Heikki Takala, President and CEO of Amer Sports. “Pekka has had a pivotal role in the company development during these 14 years and he showed strong commitment to the company by extending his tenure beyond his defined retirement date."
