When Nordic Paper invested in the growth company Ekoligens, everything looked promising. But as so often with young companies, the reality turned out to be more complex. Soon, they were without a CEO and leadership in a crucial phase. We have spoken to Markus Larin, Strategy Director at Nordic Paper, (co-investors of Ekoligens), about the choice to engage an interim CEO. Ekoligens develops sustainable alternatives to plastic, including paper hangers.
“It was a critical situation. We needed someone who could both step in immediately and handle the uncertainty with calm and drive. Choosing an interim CEO was the best decision we could make,” says Markus.
Markus has a background as a management consultant but moved to the industry in 2019, first in automotive and then to Nordic Paper, where he has been responsible for strategy and business development since 2023. During his first year at Nordic Paper, he was involved in driving the investment in Ekoligens, a smaller company with great potential, but also more questions were raised than expected.
“We quickly realised that we didn’t understand as much as we thought when investing in the company. When the CEO left, it became very clear how vulnerable a small company in a growth phase is without the right leadership.”
Finding a permanent CEO proved difficult – the candidates with the right experience were often not interested in a small company with an uncertain future. Markus contacted Nordic Interim, with whom he had previously had contact.
“I had previously been thinking about becoming an interim myself. I was in contact with Nordic Interim and knew that they had a good network. The process went extremely fast, and I got several highly qualified candidates presented in just a few days. I was impressed both by the speed and by the quality.”
Tony Wester was engaged, and he did not only have the right experience, but also the exactly right personality that Ekoligens needed in this uncertain stage; confident, structured and at the same time forward-leaning.
“Tony came in with a fresh look at things and a strong focus. He has been a great asset, and it says something that he is now the permanent CEO. He thought the assignment was so exciting that he wanted to stay.”
Leading a small growth company is not always easy. For Ekoligens, the future is affected by, among other things, legislation, market maturity and technological development. The road ahead is promising, but not straightforward.
Markus clearly sees the value of Interim Management in this type of situation.
“An interim comes in quickly, has no prestige and is often overqualified, which is exactly what you need at a critical stage. They focus on what really matters and look at the business with fresh eyes. It’s an asset you rarely get in a traditional recruitment process.”
Nordic Paper is today one of the Nordic region’s leading niche producers of paper, with four mills in Scandinavia and one in Canada. They sell paper to customers who further process the product, and the company’s strength lies in flexibility and customisation. Markus’ role is usually about defining long-term strategies – what will the company sell in two years, and how can global trends be harnessed to its advantage? Right now, much of his time is focused on working with the company’s new owners and coordinating internal initiatives.
When he looks back on the choice to hire an Executive Interim Manager, he is clear:
“Sometimes you have no choice but to think in new ways. Bringing in an interim CEO was the right decision – both in the short and long term.”
When Ekoligens was without leadership in a crucial phase, the Board chose to think new and decide quickly. By engaging an interim CEO through Nordic Interim, the company gained access to the experience, focus and courage required to navigate the situation. The result? A successful capitalisation, a clear direction forward and a CEO who chose to stay. A clear example of how Interim Management can be the crucial solution when uncertainty meets potential.