CEO Spinnova announces departure after short period of time
Spinnova CEO Tuomas Oijala leaves the company Credits: Spinnova Tuomas Oijala, CEO of Spinnova Plc, will step down from his position, with his last day of employment no later than September 12, 2025. Spinnova announced this in a press release. Oijala will remain in his role during his six-month notice period, focusing on continuing the current strategy and ensuring a smooth transition. Oijala joined Spinnova as CEO on January 1, 2024. The reason for Oijala's departure was not disclosed. In a press release, Spinnova stated that the Board of Directors has immediately begun the search for a new leader to guide the next phase of growth. Spinnova, based in Finland, is known for its technology used in the production of sustainable fibres from wood pulp and waste materials without harmful chemicals. The fibre, which is biodegradable and recyclable, is recognised for its minimal environmental impact, including low CO2 emissions and water consumption. Thanks to strategic changes, Spinnova managed to reduce its losses in 2024. The operating loss decreased from 20.9 million euros to 18.3 million euros, while the net loss decreased by 14 percent to 16.8 million euros. However, annual revenue shrank considerably, from 10.6 million to nearly 0.8 million euros. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
Tuomas Oijala, CEO of Spinnova Plc, will step down from his position, with his last day of employment no later than September 12, 2025. Spinnova announced this in a press release.
Oijala will remain in his role during his six-month notice period, focusing on continuing the current strategy and ensuring a smooth transition. Oijala joined Spinnova as CEO on January 1, 2024. The reason for Oijala's departure was not disclosed.
In a press release, Spinnova stated that the Board of Directors has immediately begun the search for a new leader to guide the next phase of growth.
Spinnova, based in Finland, is known for its technology used in the production of sustainable fibres from wood pulp and waste materials without harmful chemicals. The fibre, which is biodegradable and recyclable, is recognised for its minimal environmental impact, including low CO2 emissions and water consumption.
Thanks to strategic changes, Spinnova managed to reduce its losses in 2024. The operating loss decreased from 20.9 million euros to 18.3 million euros, while the net loss decreased by 14 percent to 16.8 million euros. However, annual revenue shrank considerably, from 10.6 million to nearly 0.8 million euros.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
This article was translated to English using an AI tool.
