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Investing.com -- Shares in SIG Group surged on Monday after the company said it has chosen Mikko Keto as its next chief executive, concluding an extensive global search. He is expected to take up the role in the first half of 2026.
Shares in SIG Group were up more than 8% in European trading as of 10:17 GMT.
Keto joins from FLSmidth, the engineering group focused on the global mining industry. He became head of FLSmidth’s Mining division in 2021 and was promoted to group CEO the following year. FLSmidth’s market value doubled under his leadership.
Before that, he spent more than nine years at Metso Corporation, where he most recently led the Services and Pumps business. His earlier roles include positions at Nokia Networks and KONE Corporation.
“Mikko Keto’s profile is fully aligned with SIG’s CEO search criteria,” Kepler Cheuvreux analyst Torsten Sauter said in a note.
SIG’s board said in a statement that Keto brings an “impressive track record of driving business and cultural transformations in engineering-led systems businesses.”
“We believe that under his direction, we will build a simpler, leaner, and more agile company that delivers enhanced value to all stakeholders,” it added.
Separately, Morgan Stanley analyst Ioannis Masvoulas said that Keto’s appointment “addresses one of the key near-term unknowns and appears to fit the profile outlined at that recent Investor Update of bringing in an executive with good experience in large scale, global, engineering/cap goods space, as well as having good execution/turnaround track record.”
“Instilling greater investor confidence on operational turnaround and business streamlining potential is a key prerequisite to a multiple re- rating, in our view,” he added.