trending Market Intelligence /marketintelligence/en/news-insights/trending/ngU3VkQyKNUi7eTgB7grjg2 content esgSubNav
In This List

Finland's Tokmanni, Kesko resolve noncompetition dispute

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

Insight Weekly: Reviving nuclear power; 2023 outlook for US financials; PE funds fuel EV sector

Blog

Insight Weekly: Energy reforms after midterms; Crisis ends 'age of gas'; bank deposits fall


Finland's Tokmanni, Kesko resolve noncompetition dispute

Finnish department store operator Tokmanni Group Oyj said Dec. 20 that it has reached an agreement with food retailer Kesko Oyj regarding their noncompetition dispute.

Under the agreement, Mika Rautiainen, who has been a vice president at Kesko since 2013, will become CEO of Tokmanni, effective June 1, 2018.

Kesko previously applied for an injunction to stop Rautiainen from taking any role at the department store operator, stating that a noncompetition clause in his executive contract prevents him doing so. The new announcement disregards the previous injunction.

Tokmanni Chairman Harri Sivula will remain interim CEO until Rautiainen takes up the post in 2018.