:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/JLKXKA5CIFDULPNUMC2T6CQXYM.jpg)
.png)
On Wednesday, Oma Säästöpankki experienced a significant drop in its share price of over 6 percent following the announcement of CEO Pasi Sydänlammi’s termination. The bank’s board made this decision after careful consideration, citing a loss of trust in the market as the reason behind it.
The recent decline in share price has been substantial, with a decrease of approximately 30 percent since the beginning of the year. During a press conference, Chairman Jaakko Ossa revealed that this decision was made after thorough evaluation by the board. Despite these challenges, Mellaksen believes that the bank’s operational activities will continue as usual until a new CEO is appointed.
Mellaksen speculates that the bank may look for a new CEO from outside the company to bring fresh perspectives and start anew. The bank’s recent negative earnings warning and loss provision indicate challenges in risk management, which is crucial for banking operations. However, Mellaksen believes that rebuilding trust and ensuring stability are critical to the bank’s future success.
