CEO of Altia to stand down

The Finnish state-owned beverage alcohol group confirmed that Leena Saarinen will leave the company tomorrow.

 The reason for Saarinen's resignation was given as "the
discontinuation of the fuel ethanol plant project, of which she takes full
responsibility". Company chairman Jarmo Leppiniemi said that costs for the
ethanol plant had risen to high, resulting in Saarinen choosing to resign.
"She made the decision herself," Leppiniemi said. "She was not
fired."

At the same time, Altia said that deputy managing director
Teuvo Pollari will also leave the company. Pollari will step down at the end of
June.

The recruitment process for a new CEO has already
started, with company CFO Tuomas Itkonen taking the position of substitute
managing director until a new CEO has been appointed.

Altia distributes beer, wine and spirits across the Nordic
and Baltic states.