Wed, 09 Jul, 2014 12:09:04 AM FTimes-STT Report, July 9  Pekka Laaksonen, CEO of Valio Valio at the company head office in Helsinki on Tuesday. Photo – Lehtikuva. Dairy product company Valio’s Chief Executive Officer Pekka Laaksonen said that his departure was influenced by the solution reached on the milk pricing dispute.
The company announced on Tuesday that Pekka Laaksonen will retire next autumn.
Faulty regulatory decisions and years of litigation have been frustrating and tiring, Laaksonen told the news agency STT.
The dairy producing company Valio was on June 26 found culpable of practising unfair competition by the Market Court.
The court imposed a 70 million euro penalty on Valio and ordered the company to compensate another dairy company, Arla Ingman about 100,000 euros in legal costs.
Valio's headquarters in Pitäjänmäki in Helsinki. Photo – Lehtikuva. According to the court, Valio had an elaborate plan to displace Arla Ingman from the market by under-pricing milk.
The company intends to appeal against the Market Court’s decision to the Supreme Administrative Court.
According to the company, the next CEO will be sought from within the company.
The chair of Valio's board, Antti Rauhamaa said that Laaksonen’s retirement came as a surprise even if the retirement is according to the contract.
Rauhamaa also pointed out the hefty fine imposed on Valio bugged the outgoing CEO.
Rauhamaa added that the board still has confidence in the outgoing CEO and that he will continue in his position until a new CEO is chosen.
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