FLSmidth Chief Executive Mikko Keto will step down after leading the Danish engineering group through its transformation into a pure-play mining supplier, the company said Sunday.
Keto is expected to leave during the first half of 2026 to assume an executive role with a non-competing company and will continue in his current capacity while the board searches for his successor.
Appointed CEO in January 2022, Keto oversaw a multi-year restructuring that included the recent divestment of the company's historic cement business to improve financial performance.
The departure comes as the company prepares for a new strategic phase focused on growth.
“FLSmidth’s multi-year restructuring is approaching its end, and the company is now entering its next phase, which requires an accelerated focus on driving profitable growth,” Board Chairman Mads Nipper said in a statement.
The company said the leadership change does not affect its 2025 financial guidance.
FLSmidth has postponed its Capital Markets Day, planned for March 2026, until a new CEO is involved.
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