Summa Defence Plc
Company announcement, inside information November 6, 2025, at 11:00 am EET
 

Summa Defence Plc's CEO Jussi Holopainen and the company's Board of Directors have mutually agreed that Holopainen will step down from his position as CEO as of today. Holopainen will remain with the company and continue as Director in the New Technologies focus area, which includes, for example, drone systems, Lightspace, and space technology.

The Board will initiate the recruitment process for a new CEO.

Timo Huttunen, currently CEO of Summa Defence Plc's subsidiary Aquamec, has been appointed as interim CEO.

"I would like to thank Jussi Holopainen for his excellent cooperation. He has played a key role in Summa Defence's remarkable founding story and in the company's successful listing as the first defense and security industry company on the First North Growth Market in Stockholm and Helsinki. Now it is time to move to the next chapter in Summa Defence's story," says Chairman of the Board Arto Räty.

The appointed interim CEO, Timo Huttunen, M.Sc. (Tech.), LL.M., has 14 years of experience in executive positions at listed companies, including Cargotec and Lännen Tehtaat Plc. From 2009 to 2025, Huttunen served as CEO and principal shareholder of Lännen MCE Group. The former subsidiaries of Lännen MCE now account for approximately 50% of Summa Defence Plc's revenue, and the company is one of Summa Defence's anchor shareholders. Huttunen has served as CEO of Aquamec since December 2024.

"Timo Huttunen, with his deep knowledge of Summa Defence, is a natural choice to take responsibility for leading the company on an interim basis until a new CEO is appointed. I thank Timo for his readiness to take on this role during the transition," Räty says.

SUMMA DEFENCE PLC

Board of Directors

More information:
Arto Räty, Chairman of the Board

Inquiries and contacts:
Tommi Manninen, Chief Communications Officer
Phone: +358 400 437 515
Email: tommi.manninen@summadefence.com

Summa Defence in brief

Summa Defence Plc is a Finnish defence and security technology group whose mission is to create a strong industrial foundation of innovative defence and dual use SMEs for strengthening the comprehensive security of society.

Summa Defence aims for both M&A-driven and organic growth across three focus areas: maritime technologies, land technologies and new technologies. The company's vision is to be a forerunner in comprehensive security industry.

The shares of Summa Defence Plc are listed on the Nasdaq First North Growth Market in Sweden (SUMMAS) and Finland (SUMMA). www.summadefence.fi/en/

The company's Certified Adviser is Augment Partners AB, info@augment.se, tel. +46 8-604 22 55.