Raisio appoints Elli Siltala as new CEO, releases half-year financial results

FINLAND – The Board of Directors of Raisio plc has appointed Elli Siltala, M.Sc. (Econ.), as its new Chief Executive Officer, effective 1 September 2026.

The executive appointment comes as the healthy food specialist released its half-year financial report for January–June 2026, detailing stable top-line revenue alongside operational strategic developments.

Siltala succeeds Pasi Flinkman, who has led the company as CEO since June 2024 and whose pending departure was announced earlier this year in May.

Flinkman will continue in his role until Siltala officially assumes her duties at the beginning of September.

Siltala joins Raisio from SOK, the central cooperative organization for Finland’s S Group retail network, where she served as Chief Loyalty and Media Officer and sat on the Group Executive Team.

She brings over 25 years of extensive leadership experience across the international food, dairy, and retail sectors.

Before her tenure at SOK, Siltala held multiple executive positions at the Finnish dairy company Valio, overseeing business unit management, commercial sales, marketing, and global business operations as a member of the executive team.

The appointment comes at a strategic pivot point for Raisio, a producer known globally for its plant-based products, functional foods, and healthy food brands.

Chairman of the Board of Directors, Arto Tiitinen, emphasized that Siltala’s deep domain expertise across the entire food value chain, from farm to table, will be critical as the group targets its next growth phase.

Under her leadership, the company aims to accelerate expansion through both organic business developments and targeted corporate acquisitions.

Commenting on her appointment, Siltala highlighted Raisio’s solid balance sheet, well-recognized brand portfolio, and workforce as key capabilities for driving international scale.

She expressed enthusiasm for working alongside the board, employees, and retail partners to strengthen Raisio’s market position focused on healthier nutrition and consumer wellbeing.

The leadership change coincides with Raisio’s half-year financial results for the first six months of 2026.

For the January–June period, Group net sales reached EUR 113.5 million (US$130.93M), representing a 1.0% increase compared to EUR 112.4 million (US$129.66M) in the prior-year period.

Profitability remained steady amid external cost pressures and shifting consumer confidence, with comparable EBITDA recorded at EUR 17.7 million (US$20.42M) compared to EUR 18.7 million (US$21.58M) in H1 2025.

In the second quarter alone, net sales grew 2.7% to EUR 56.0 million (US$64.61M), but comparable EBIT dropped sharply, down 29.9% to EUR 5.5 million (US$6.35M) from EUR 7.9 million (US$9.12M), while reported EBIT fell to just EUR 1.2 million (US$1.38M) after a EUR 4.3 million (US$4.96M) impairment charge tied to right-of-use assets at its Kauhava site, linked to the divested plant protein business.

The Breakfast, Snacking & Food Solutions unit was a bright spot, with half-year net sales climbing 6.2% to EUR 53.9 million (US$62.19M), driven by continued strong growth in the Elovena oat brand, up 10%, and robust export demand for Food Solutions products.

The Heart Health unit, home to the Benecol brand, saw net sales dip 1.6% to EUR 58.0 million (US$66.93M), weighed down by softer UK consumer volumes, unfavourable currency effects and costs tied to a brand renewal launch.

Raisio reconfirmed its full-year outlook for 2026, maintaining its expectation of net sales and comparable operating profit growth over 2025 levels as the company prepares for its upcoming leadership transition.

The report also confirmed the appointment of Elli Siltala as incoming CEO, effective 1 September 2026, succeeding Flinkman.

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