Nokian names former TWS exec Paolo Pompei next CEO

NOKIA, Finland—Nokian Tyres P.L.C. is hiring former Trelleborg Wheel Systems (TWS) President Paolo Pompei to be its president and CEO, replacing Jukka Moisio, who announced in March his intention to retire from the position he has held since 2020.

Moisio will continue in the position until Pompei joins the company on Jan. 1, 2025, at the latest.

Pompei said he is honored to join the company during "an exciting transformation phase," citing Nokian Tyres' growth plans in Central Europe and North America while strengthening its commitment to sustainability. Nokian recently opened what it calls the world's first zero CO2 emission tire factory in Romania. "This combined with great products, a valued brand and leading position in the Nordic countries offers a lot of opportunities for development," Pompei said. "I look forward to working with the Nokian Tyres team, and creating future success together with existing and new customers."

Pompei most recently worked at Yokohama TWS, serving as president of that business from 2023-24. Prior to that, he was president of TWS since 2017.

Yokohama Rubber Co. Ltd. acquired TWS from Sweden's Trelleborg A.B. for $2.3 billion in May 2023. Yokohama created a new company, Yokohama TWS, and the tire maker didn't change TWS' existing organizational structure.

Prior to his tenure as president Pompei served in several leadership positions in the Trelleborg Group, including the president of the business unit, agricultural tires, from 2006-2017. He also worked at Pirelli & C. S.p.A.

Nokian said Pompei is a board member for the European Tyre & Rubber Manufacturers' Association (ERTMA).

Jukka Hienonen, chair of Nokian Tyres' board of directors, said Pompei "has very strong international experience from the tire industry, delivering continuous growth and strong financial performance in his earlier positions. He also has a deep understanding of the markets in Central Europe and North America, which are the key growth markets for Nokian Tyres."

He said Pompei has the experience and ability to help the tire maker reach its goal of more than $2 billion in net sales.

Heinonen lauded Moisio for leading Nokian Tyres "through exceptional times, during COVID-19 and through the consequences of the war in Ukraine, developing Nokian Tyres toward new growth."

According to Rubber News' Global Tire Report, Nokian Tyres ranks as 20th in global tire sales. In 2022, its sales were approximately $1.77 billion.

Workers at Nokian's $697 million factory in Oradea, Romania, produced the first tire at that facility on July 1. The milestone was reached as planned and the building project is progressing on budget and on schedule for commercial tire production to start in early 2025, the company said.

Nokian Tyres also recently opened its 350,000 sq.-ft. warehouse at it plant in Dayton, Tenn., with the capability to hold thousands of tires made at the nearby tire factory.