Former Collection Company Head To Become New CEO Of Finnair

Finnair’s current CEO tendered his resignation in August (read more here) to join a Finnish mobile operator. Now, the company has appointed a new CEO, previously head of a collection agency and then Finland’s Post.

The current CEO leaves the airline on January 15, and the new one moves in from the Posti on July 11, 2024.

You can access Finnair here.

Finnair’s Press Release:

Inside information: Turkka Kuusisto appointed CEO of Finnair

Finnair has appointed Turkka Kuusisto (44, MSc. Tech) as CEO of Finnair and he will start in this role on 11 July 2024 at the latest. Kuusisto joins Finnair from Posti Group Corporation, where he has served as the CEO since 2020. Prior to his CEO role in Posti Group Corporation, Kuusisto served in senior leadership positions in Posti Group Corporation and in Lindorff Group.

”I am happy to welcome Turkka Kuusisto to take the helm of Finnair and drive the next phases of Finnair’s strategy. Finnair has restored its profitability after the historic double crisis, and the company is well positioned to continue to build a sustainable future, offering excellent connections via its Helsinki hub to both Finns and to customers traveling between Europe and Asia, the Middle East, and Americas”, says Sanna Suvanto-Harsaae, Chair of the Board of Directors, Finnair.

“Turkka brings to Finnair his strong understanding of complex industries and his proven people leadership and strategy skills, which will benefit Finnair as Finnair now moves to the next phase in its strategy”, Suvanto-Harsaae says.

”Finnair embodies to me Finnish spirit and global connections, and it has a long and unique heritage as a 100-year old airline. I am excited and humble to take on the role of CEO in this iconic company. Working side by side with all Finnair colleagues and carefully listening to our customers, I trust our joint journey will be a successful one”, says Turkka Kuusisto.

Finnair’s current CEO Topi Manner will leave the company on 15 January 2024 to later take on the role of CEO at Elisa Corporation. Jaakko Schildt, Chief Operating Officer of Finnair, will act as an interim CEO between 15 January and the start of the new CEO.

Posti’s Press Release:

Posti’s President and CEO Turkka Kuusisto leaves the company to join Finnair

Posti Group’s President and CEO, Turkka Kuusisto, has given notice of his resignation to join Finnair as their new CEO, starting at the latest on 11 July 2024. Until then, Kuusisto continues in his CEO role at Posti.

“Turkka Kuusisto has done an outstanding job with his team to lead Posti through a major transition with a purpose-driven strategy and strong focus on people. Posti is becoming a modern delivery and fulfillment company focusing on customer experience and having strong sustainability leadership position in its industry. Turkka has build a strong leadership team around him that is in excellent position to take Posti forward. I want to thank Turkka warmly for his time at Posti,” says Sanna Suvanto-Harsaae, Chairman of Board of Directors.

“Over the last four years we have demonstrated that an almost 400 years old institution can renew. I want to thank all Posti employees for their commitment and excellent job in transforming Posti and executing the new strategy. It has been a privilege to be part of the team and this magnificent journey. I am confident that the journey will continue successfully. The company and organization are in good shape for facing the future opportunities. I continue leading the company with full focus with my team during the rest of my time at Posti,” says Turkka Kuusisto.

The search for Kuusisto’s successor is well on its way.

Conclusion

It is somewhat amusing that the same person (Sanna Suvanto-Harsaae) thanked Mr. Turkka for his contribution at Posti and welcomed him as the CEO of Finnair. Sanna is the Chairman of the Board of Directors at both companies (majority-owned by the government of Finland).

The most recent three Finnair CEOs came from Nokia, Cargotec, and Nordea, with no experience in the aviation sector, and the incoming one comes from Posti. I guess it is nearly impossible to hire a foreign CEO to lead Finnair due to the ownership structure and the airline’s strategic importance to the country.

Finnair’s strategy was to connect North Asia’s large cities and capitals with Europe, which fell apart after Russia attacked Ukraine, and the airline no longer could not utilize Russian airspace, making previously shortest connections between Asia and  Europe one of the longest.

It is challenging to see Finnair bouncing back; it can always retreat to a domestic/regional airline until the situation with Russia is back to normal, likely years away.