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Finnish dairy and food company Valio has announced that CEO Annikka Hurme will retire at the end of 2026 after more than three decades with the company.

The company's board of directors has appointed Matti Lehmus as Valio's next CEO, effective 1 January 2027. Hurme will remain in her current role until the end of the year to support the transition.

Hurme joined Valio in 1989 and has held a range of leadership positions during her tenure. She has served as CEO since 2014, overseeing a period of strategic transformation and growth.

According to board chair Vesa Kaunisto, Hurme played a key role in strengthening Valio's profitability and expanding its international presence. During her leadership, the company diversified beyond its traditional dairy operations, growing its plant-based portfolio, entering the biogas sector and expanding into wholesale activities.

"Matti Lehmus is an experienced leader with a strong track record of developing and growing businesses both in Finland and internationally," Kaunisto commented. He added that Lehmus' experience leading global growth projects aligned with Valio's strategy, which focuses on international expansion, strengthening growth brands and accelerating new business development.

Lehmus joins Valio following a long career at Finnish oil refining firm Neste, where he held several senior leadership positions, including president and CEO between 2022 and 2024. He also currently serves on the board of Kemira.

Commenting on his appointment, Lehmus said: “It is a great opportunity to lead Valio, which has a unique role in the Finnish food industry. Valio has a strong foundation: skilled employees, respected brands and the ability to develop new products."

"I look forward to working with Valio employees to create long-term growth and strengthen competitiveness in a changing operating environment, as well as to the opportunity to apply my experience in a new industry."

Hurme added: “It has been a great honour to be part of this continuum in the service of the iconic Valio. The company has always evolved with the times and led the way for the entire industry. I am pleased to pass the baton to my successor at the turn of the year and look forward to following the next chapter of Valio’s success story."