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Tikkurila Oyj announced on June 13, 2021 that upon completion of PPG Industries, Inc’s tender offer for all of the shares of Tikkurila, Tikkurila’s Chief Executive Officer (CEO) Elisa Markula notified the Tikkurila board of directors of her decision to resign as CEO of Tikkurila to take a CEO role at another company in another industry sector. The board of directors of Tikkurila has now named Markus Melkko as interim CEO of Tikkurila, effective immediately, in addition to his current responsibilities as Tikkurila’s Chief Financial Officer (CFO). Elisa Markula will remain with Tikkurila until a date to be separately announced to ensure a smooth transition.
"I want to thank Elisa for her leadership and many contributions to Tikkurila,” said Tim Knavish, PPG Executive Vice President. "She has built a strong team and together they executed a strategy to profitably grow the Tikkurila business. These efforts helped to enhance the value and reputation of Tikkurila, and we are pleased it is now part of the PPG family. We wish Elisa all the best in her future endeavours.
"Markus is a proven leader and he has been instrumental in the transformation of the Tikkurila’s business, which positions us well to achieve continued growth and success. He has played a key role on the leadership team in executing the business strategy and delivering increased value to Tikkurila’s stakeholders.”
Markus Melkko joined Tikkurila in 2019 and has served as its CFO and a member of the management team.
PPG Finland Oy, a wholly owned subsidiary of PPG Industries, Inc, currently holds 97.1% of all the shares and voting rights in Tikkurila. PPG Finland’s right and obligation to redeem the minority shares of Tikkurila were registered to the Finnish trade register on June 14. Upon such registration, the term of office for the board of directors elected conditionally at the Annual General Meeting of Tikkurila held on June 11, 2021 commenced.
