According to the release issued Monday, Stockmann’s board of directors and now ex-CEO Per Thelin jointly agreed that Thelin would leave the company on April 4.
Business daily Taloussanomat says bluntly that the Swede was fired after just over a year on the job.
Thelin joined the company in November 2014, and presided over the sale of Stockmann’s Seppälä clothing outlets as well as its department stores in Russia.
The company also divested its Academic Bookstore chain in 2015 and offloaded staff in response to sluggish sales, particularly in Russia.
The board has begun the search for Thelin’s replacement, while Chief Financial Officer Lauri Veijalainen has been appointed interim chief executive.
In the second quarter of 2015, the company announced a return to profitability, bolstered by its corporate restructuring programme and cost-cutting measures.
