Esa Mäki, the CEO of Finnish food group Apetit, has stepped down due to “personal reasons” after more than seven years in the role.

The producer of ready meals and frozen vegetables has initiated a search to identify his successor.

Announcing Mäki’s resignation today (26 October), the company said he will remain at the helm through the end of May before moving into an advisory capacity for the remainder of 2027.

Kai Seikku, the chairman of the board of directors of Apetit, said: “During Esa’s tenure as CEO, the development of Apetit’s financial performance and strategic renewal has been impressive. The change of CEO will not affect the strategy: Apetit is targeting growth, in which we are investing strongly and boldly.”

Prior to joining Apetit, Mäki held leadership roles at firms including HKScan, Atria, and Biolan.

The executive's planned departure follows the release of third-quarter results by the Helsinki-based manufacturer on 23 October.

For the full-year, management reaffirmed its August guidance, projecting an annual operating loss of €2m ($2.3m) at worst, up to a profit of €1m. The outlook excludes the impact from the acquisition of the Sweden-based pea supplier Foodhills, a deal struck last year.

Despite the muted outlook, the third quarter yielded gains, with the “operating result” climbing 55% to €5m and EBITDA increasing 47% to €7.4m. The company generated net sales of €41.3m for the quarter to September.

The growth was driven by retail volume and a “record-high” frozen pea crop in Finland, alongside typical accounting capitalisations from seasonal harvest peaks in Sweden, which offset lower crushing margins and delivery timing issues within the Oilseed Products segment.

Apetit’s product line-up includes plant-based options like vegan wings, meat-alternative patties and pizzas, along with gluten- and dairy-free vegetable appetisers.