NOKIA, Finland (Sept. 27, 2016) — Ari Lehtoranta, president and CEO of Nokian Tyres P.L.C. since September 2014, has resigned those positions, effective year-end, in order to pursue new opportunities outside of Nokian Tyres.
Mr. Lehtoranta, whose executive experience prior to joining Nokian was predominantly in the telecommunications industry, did not elaborate on his reasons for resigning after just two years with the Nokia-based tire maker, saying only: “Nokian Tyres is in excellent condition. Our customers are satisfied with our products and services. I am proud of our personnel and their capability.”
Nokian's board of directors will start the recruitment process to select a new president and CEO.
Nokian Tyres Chairman Petteri Walldén thanked Mr. Lehtoranta for his “contribution in leading and developing the company,” noting several “significant strategic development projects” are under way to increase Nokian's growth in Central Europe and North America.
Under Mr. Lehtoranta's guidance, Nokian reported a fiscal 2015 operating income ratio of 21.8 percent, down slightly from fiscal 2014. Through the first half of fiscal 2016, the operating ratio slipped slightly to 20.9 percent.