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CEO of Posti Heikki Malinen Steps Down in the Middle of Political Controversy; Turkka Kuusisto Takes Over

CEO of Posti Heikki Malinen Steps Down in the Middle of Political Controversy; Turkka Kuusisto Takes Over

Turkka Kuusisto is the interim president and CEO of Posti Group Corporation until a new CEO has been recruited. In the picture, Kuusisto attending Posti’s press conference on October 2, 2019. Picture: Tony Öhberg for Finland Today

Turkka Kuusisto is the interim president and CEO of Posti Group Corporation until a new CEO has been recruited. In the picture, Kuusisto attending Posti’s press conference on October 2, 2019. Picture: Tony Öhberg for Finland Today

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Heikki Malinen, the president and CEO of Posti Group Corporation, has stepped down from his position on Tuesday, October 1, 2019.

Malinen has been the president and CEO of Posti Group Corporation since 2012.

“When I was appointed as CEO, the owner gave me three objectives: ensure that Posti remains profitable, build new profitable growth businesses to safeguard the future of Posti Group and raise the firm to the level of a stock-listed company,” Malinen, who was not present at Posti’s press conference on Tuesday morning, says in a statement.

“All three objectives have been met,” he says and continues, “These years have included painful restructurings, but also great successes and brave renewal with the help of extremely competent employees. My deep gratitude goes out to them. Now I feel, that it is the right moment to say thank you and make space for a new person at the helm of the company.”

Heikki Malinen, the former president and CEO of Posti Group Corporation. Picture: Vesa Kippola

Markku Pohjola, the chairman of the board of directors of Posti Group Corporation, said on Tuesday that it was Malinen’s decision to step down. “Posti didn’t push him out,” he said.

Malinen’s resignation is happening amid the latest political controversy. Malinen has been in the headlines for receiving an annual salary of almost a million euros in the middle of steady layoffs and considerable pay-cuts to postal workers.

According to Posti, Heikki Malinen will not receive additional severance pay. He will get the remuneration of six months’ termination notice period based on his CEO contract, reduced by two months’ salary.

A salary of four months is about 184,000 euros.

On Tuesday, Turkka Kuusisto (M.Sc. Eng.) stepped in front of the media as Malinen’s follower. He has been appointed as the interim president and CEO of Posti Group Corporation, and the recruiting process for a new CEO has already started. Kuusisto has been working at Posti as the senior vice president of parcel and eCommerce business.

According to Kuusisto, he, together with Posti’s personnel, will continue renewing the company and seeking future growth especially in parcel and eCommerce as well as logistics.

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About The Author

Tony Öhberg

The founder. Reporter and photojournalist. Salesman. Fluent in three languages. Pushing a career in journalism spanning two decades. Always looking for opportunities to tell another story.

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