Apetit has named Teemu Luovila to replace finance chief Tero Heikkinen, who is due to head up the Finland-based food company’s grains and oil-seed business as a director. 

Luovila will start in his position on 1 February “at the latest”, the Helsinki-listed company said in a statement today (7 November). Last month, Apetit announced Heikkinen would take up his new position at the grains business on 1 December.

The company, which supplies fresh to frozen vegetables, pizzas and vegetable cooking oils, is undergoing a business reorganisation having issued a profit warning in September under newly-installed chief executive Esa Mäki, who joined Apetit during the summer after Juha Vanhainen stepped down. 

Luovila previously worked as CFO for equipment manufacturer Sataservice-Yhtymä and also held the CEO role at recruitment firm Kaiku HR. He has also served as a partner at Ernst & Young Oy.  

“I warmly welcome Teemu Luovila to Apetit to strengthen the team and build the company further in its new form,” said Mäki.

Earlier this week, Apetit instigated a profit-improvement plan after reporting what it described as “unsatisfactory” third-quarter results, including a net loss of EUR1.2m (US$1.3m) versus a EUR1.5m profit a year earlier. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData