I met Nerg and Petäjä in the fall and got a really good impression of them based on our discussions!
Since I haven’t met the new management yet, it’s difficult to assess them based on anything other than their CVs, which look good on paper.
In this type of business, leadership plays a big role, and a change creates a point of discontinuity. I believe that the strategy will still remain the same, as will the principles of capital allocation, which will nevertheless provide guidelines for the new management and should bring continuity.
I would consider it likely, based on the timing, that the change of CFO is related to the change of the company’s CEO and the expectations possibly associated with it within the company. -No changes have been announced in the strategy, so it can’t really be related to anything else. People are ambitious regarding internal appointments, and if their own expectations and the company’s needs don’t align, then changes occur. Normal.
Industrial turnover indicators are now developing positively month after month. Although the entire industry is a broad entity, I have thought that this also describes the business cycle of Boreo’s companies (Pronius, J-matic, Filtteri, Machinery MT, Milcon, etc.) to some extent. Construction is then its own kettle of fish, but even there, things are hardly going down anymore.