Spinnova adapts his organizational structure.
Due to disappointing results and high costs, the Finnish textile technology company plans to adapt its organizational structure to the current development phase and the changed market conditions, said Spinnova PLC on Friday.
Of the 56 employees at Spinnova, around 35 are expected to lose their job. However, the company emphasized that the measures can include not only job cancellations, but also restructuring within the teams, change of function as well as both temporary and unlimited terminations. Due to the reorganization, Spinnova expects annual savings of around 2.6 million euros.
“The exact details about the scope of the measures and which people will be specifically affected are developed in the context of the upcoming negotiation process,” says the message. Negotiations begin on April 23, 2025 and should be completed by June 4, 2025 at the latest. The planned changes should be implemented by December 31, 2025 at the latest.
Changes in the management team of Spinnova
In parallel to the organizational realignment, Spinnova also makes changes in the management. The aim is to adapt the responsibilities more to the current corporate phase.
Ben Selby, Chief Financial Officer and deputy CEO, as well as Chief Revenue Officer Lasse Holopainen out of the management team. Selby has been part of management since 2021, Holopainen has been supporting the company in strategic projects until the end of June. The role of the CFO was taken on by Chief People Officer Santeri Heinonen.
“I would like to thank Ben and thank you for your contribution to the scaling and commercialization of Spinnova. I wish you only the best for your future,” said CEO Janne Poranen.
In the future, the company’s management team will be made up of CEO Janne Poranen, Chief People Officer and Chief Finance Officer Santeri Heinonen, General Counsel Johanna Valkama, Chief Product and Sustainability Officer Shahriare Mahmood and Chief Technology Officer Juha Sollela.
This article was used with digital tools translated.
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