Nokian Tyres plc (NRE1V.HE)
20 Jan 2017
HELSINKI, Sept 27 The chief executive of Finland's Nokian Tyres, Ari Lehtoranta, is stepping down to take the helm at smaller Finnish company Caverion , raising concerns among investors over the tyre maker's future.
HELSINKI, Sept 27 Finnish tyre maker Nokian Tyres' chief executive Ari Lehtoranta will step down at the end of 2016 to become the CEO of building systems firm Caverion, the companies said on Tuesday.
* CEO Ari Lehtoranta says company aims to expand to new markets such as China and Japan in the coming years
* CEO Ari Lehtoranta repeats in a news conference he expects the company to book in total 10-18 million euros of bad debt provisions in the full-year.
* Finnish tyre maker Nokian Tyres reported its quarterly profit dropped four percent from a year ago as the company faces slow demand and problems with debt collection in Russia, its key market
* Nokian Tyres Q2 net sales decreased by 2.3 pct to eur 337.4 million