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Finland: Dairy CEO exits after competition penalties

 |  July 8, 2014

After Finland fined the nation’s top dairy producer, Valio, reports say the company’s CEO has left the firm, likely as a result of the sanctions.

Valio was forced to pay about $113 million for pricing its products at below market costs to undermine competition. The firm was found to have abused its market dominance.

The fines amounted to the second-largest ever imposed in the nation, according to reports.

The company was found to have performed the anticompetitive behavior between 2010 and 2012.

Now, say reports, Valio CEO Pekka Laaksonen announced his retirement, dealing another blow the company that is now tasked with finding a new leader.

Full content: Uutiset

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