Nokian Tyres has appointed Jukka Moisio as president and CEO.

Hille Korhonen will step down after leading the company for three years in the same roles and prior to that as a member of the board.

Moisio’s latest assignment was as president and CEO of Huhtamäki, a global packaging company. Prior to Huhtamäki, Moisio served as president and CEO of Ahlstrom.

“Jukka Moisio has a proven record in successfully leading stock listed companies and company turnarounds, delivering strong financial performance and shareholder returns,” said Nokian chairman, Jukka Hienonen.

“He also has a deep understanding of the markets in Central Europe and North America, which are the key growth markets for Nokian Tyres. Jukka Moisio has the experience and capabilities to lead the company to its next phase of development.”

“Hille Korhonen has had an important role in building Nokian Tyres: first as a member of the board, and during the past three years as president and CEO. These past years have been characterised by an intensive investment phase, during which the company has built a factory in the US, as part of the target to double Nokian Tyres sales in North America.

“On behalf of the entire board, I want to thank Hille for her leadership and contributions to the company.”