FLSmidth CEO Mikko Keto plans to leave the company in the first half of 2026, the company announced.
Keto, who joined FLSmidth in 2021, will continue in his current capacity in the coming months. The search for his successor is underway.
According to FLSmidth, Keto will be assuming an executive role with a noncompeting company.
“The decision to leave FLSmidth has not been easy, but I feel that this new opportunity was one that I had to pursue,” Keto says. “FLSmidth has gone through a significant transformation, and I am proud of what the organization has achieved. We are now a more focused, resilient and profitable business, and we are well positioned for the future.”
Keto was appointed FLSmidth CEO in 2022, a year after he joined the company as president of the former mining business.
“Mikko joined FLSmidth at a time when the company required firm direction and a willingness to take difficult but necessary decisions,” says Mads Nipper, chair of the board of directors at FLSmidth. “His leadership has helped simplify the business, strengthen operational execution and position the company on a more resilient footing.
“The board of directors respects his decision to pursue an opportunity outside FLSmidth’s competitive landscape and appreciates his commitment to ensuring a seamless transition,” Nipper adds. “FLSmidth’s multiyear restructuring is approaching its end, and the company is now entering its next phase, which requires an accelerated focus on driving profitable growth. The mining industry is expected to soon enter its next growth cycle, and FLSmidth is positioned better than ever before to reap the benefits from this.”
Related: FLSmidth acquiring thyssenkrupp mining business (2021)
