Translation: Original published in Finnish on 1/14/2026 at 9:04 am EET.

Sitowise announced on Wednesday that Anna Wäck has been appointed as the company's new CEO. At the same time, Jannis Mikkola was appointed Deputy CEO and EVP of Technical Consulting. The selections were made from within the company and focused on the well-performing segment leaders. We view internal appointments favorably, as they ensure continuity in strategy execution and eliminate the need for a management onboarding period. The appointments have no immediate impact on our forecasts or our view of the company.

Internal appointments bring continuity

Sitowise has appointed Anna Wäck as the company's new CEO, effective January 19, 2026. Wäck has previously served as the Head of Sitowise's Digital Solutions business area since May 2023. She succeeds Heikki Haasmaa, whose departure the company announced earlier this week.

Concurrently, the company appointed Jannis Mikkola as Deputy CEO and EVP of Technical Consulting. Mikkola has worked for the company since 2005, most recently leading the Infrastructure business area. In his new role, Mikkola will lead technical consulting in Finland, encompassing both the Infrastructure and Buildings business areas.

The arrangement includes a transition period, as Anna Wäck will go on parental leave in May due to a new addition to her family and is tentatively scheduled to return to her position in the last quarter of 2026. During this period, Jannis Mikkola will serve as acting CEO.

Quick solution and clear division of labor

The CEO selection process moved very quickly, as Haasmaa's stepping down was only announced on Monday. Internal recruitments signal the board's confidence in the company's current expertise, despite the recent weak financial performance and challenges in the Swedish business.

We consider the chosen duo an interesting combination of new and old. Wäck represents the digital transformation and renewal in line with the company's strategy, while Mikkola brings extensive experience in the company's core business, i.e., traditional engineering and consulting. Mikkola's new role as EVP of Technical Consulting combines the management of Infra and Buildings, which can streamline operations and clarify the management structure in Finland.

Focus on profitability and strategic growth areas

The new CEO's priorities are, as expected, improving Sitowise's profitability, executing the turnaround of the Swedish business, and strengthening competitiveness. These have been key challenges for the company.

Mikkola's area of responsibility emphasizes enabling faster growth in strategic customer segments, such as industry, data centers, and the energy sector. This is in line with the company's goals to seek growth outside of cyclical new construction.

The appointments do not create immediate pressure for changes to our estimates. We have already factored the company's challenging market situation and the need for an earnings turnaround into our forecasts. The success of the new management will be measured particularly by how quickly the company can restore its profitability to target levels and resolve the issues in its Swedish business.