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HELSINKI - Finnish financial group Sampo Oyj (HEX:SAMPO) announced Wednesday that Morten Thorsrud will succeed Torbjörn Magnusson as Group CEO and President, effective October 1, 2025.
Magnusson has informed Sampo’s Board of Directors of his decision to retire after serving as the company’s top executive. Following the transition, Magnusson will continue with the group as Senior Advisor until December 31, 2025.
Thorsrud, who currently serves as CEO of If, Sampo’s largest operational unit, brings 23 years of experience with the company to his new role.
"Morten has elevated If’s performance to a new level as its CEO. I am pleased we could appoint Torbjörn’s successor from a strong pool of excellent internal candidates," said Antti Mäkinen, Chairman of Sampo’s Board of Directors.
Magnusson, who joined Sampo in 1999, stated that with the company’s strategic transformation complete and business in excellent condition, "it is time to transfer leadership to the next generation."
Thorsrud expressed his commitment to bringing the same energy to his new role that he demonstrated while leading If. "As CEO of If, I have continued our efforts to be the most caring and customer-focused non-life insurance company in the Nordic countries," he said.
The announcement, made as an insider information disclosure, noted that additional information regarding compensation is available on Sampo’s website.
Thorsrud, born in 1971, holds a Master’s degree in Business Administration from Handelshøyskolen (1996) and has been a member of Sampo Group’s Executive Committee since 2006. Before becoming If’s CEO in 2019, he held various leadership positions within the company.
This article is based on a press release statement from Sampo Oyj.
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