Teleste CFO Juha Hyytiainen to step down

Broadband technology outfit Teleste has confirmed chief financial officer Juha Hyytiainen will be leaving the company, after more than a decade in the role.

Juha Hyytiainen (Source: Teleste)

Hyytiainen will step down from his role at the end of August to ensure a smooth transition and transfer of duties, says the company.

He joined the company as CFO in 2013, where he led the finance & control and IT functions at Teleste.

During his tenure, Hyytiainen also served as Board member in Teleste’s subsidiaries in Belgium, Finland, Germany, Italy, Spain, Switzerland, the UK, and the US.

Teleste said it has started the recruitment process for Hyytiainen’s successor, with Tomi Narhinen from outside the company to assume the role of acting CFO in the meantime.

Teleste has taken a financial hit after a tough fourth quarter last year, with an adjusted operating loss of €1.4 million and net sales declining by a third to €30.7 million. Despite EBITDA rising in the first quarter, the company’s sales were down 19.3% and said it expects a difficult Q2.

Commenting on Hyytiainen’s depature, Teleste’s CEO Esa Harju, said: I would like to warmly thank Juha for his excellent contribution as Teleste’s CFO over the past 10 years. I wish him much success in his new and interesting tasks.”