FLSmidth Taps Laaksonen to Lead New Growth Era in Mining

COPENHAGEN, Denmark – February 04, 2026 – In a move signaling a strategic pivot from intensive restructuring to aggressive growth, global mining technology supplier FLSmidth & Co. A/S has appointed Toni Laaksonen as its new Chief Executive Officer, effective immediately. Laaksonen, who joined the company in June 2025 as President of the Service Business Line, succeeds Mikko Keto, who departed in November 2025.

The appointment concludes a comprehensive search and marks a new chapter for the Danish firm, which is now poised to leverage a strengthened financial foundation and a streamlined, mining-only focus to capture a new wave of industry growth.

A Pure-Play Pivot: The Foundation for Growth

Laaksonen takes the helm of a company that has undergone a profound transformation. Over the past several years, FLSmidth has executed an ambitious restructuring plan, moving from a diversified engineering company to a specialized technology and service provider for the global mining industry. This strategic overhaul culminated in the landmark decision in 2025 to divest its long-standing Cement business, a move designed to sharpen its focus and unlock shareholder value.

The results of this transformation are evident in the company's recent financial performance. In 2024, FLSmidth reported its highest Group EBITA margin in over a decade at 9.8%. This momentum continued into 2025, with strong execution leading the company to upgrade its full-year adjusted EBITA margin guidance to an impressive 15-15.5%. The period of intense change, overseen by former CEO Mikko Keto, also saw the successful wind-down of its Non-Core Activities segment, the sale of its Copenhagen headquarters, and the launch of its first share buy-back program in more than ten years, signaling confidence to the market.

This disciplined phase of portfolio pruning and de-risking has created a leaner, more resilient company. With a solid operational and financial foundation now in place, the board has signaled that the time for deep-cutting is over and the time for building has begun.

A New Captain for the Next Cycle

Toni Laaksonen's selection is a clear endorsement of a strategy centered on operational excellence and commercial power. Though he has been with FLSmidth for less than a year, his impact on the Service business and his extensive background in the mining technology sector made him a standout candidate. Before joining the Danish company, Laaksonen was President and CEO of Glaston Corporation, where he was credited with re-energizing the company's service offerings and restructuring its global sales organization to drive growth.

His career includes senior leadership roles at industry giants like Metso, Outotec, and ABB, where he built a reputation for driving profitability and sales growth. This deep industry experience was a key factor in his appointment.

“Toni is a highly capable leader with deep industry experience, a strong track record of driving profitable growth, improving operational excellence and has a leadership style rooted in empathy and engagement,” said Mads Nipper, Chair of the Board of Directors. “Since joining FLSmidth, Toni has delivered solid results within the Service Business Line, clearly demonstrating the leaderships capabilities, strategic insight and execution power required to unlock FLSmidth’s growth potential.”

Laaksonen will continue to oversee the Service business on an interim basis, ensuring continuity while he assumes leadership of the entire organization. His appointment is seen as a move that balances strategic continuity with a renewed focus on culture, performance, and leadership effectiveness.

From Discipline to Execution: The 'Accelerating Growth' Mandate

The new CEO's mandate is clear: accelerate growth. After years of focusing inward on restructuring and cost discipline, FLSmidth is now shifting its attention outward to commercial execution and enhancing the customer experience. This strategy aligns with the company's 'CORE’26' plan, which prioritizes a transition from a project-based engineering firm to a service-oriented technology partner for its clients.

Laaksonen expressed his enthusiasm for this new phase. “I thrive on driving strong commercial execution and continuous improvement in the customer experience, positioning FLSmidth to capture the exceptional opportunities that lie ahead,” he stated. “Together with all our colleagues, I am excited to build on our strong foundation and lead FLSmidth into its next phase of growth.”

This growth is expected to come from several avenues. The company has already seen promising results from targeted investments, with its Pumps, Cyclones & Valves (PC&V) segment growing 7% in the second quarter of 2025. By leveraging its technological expertise and expanding its service offerings—a core competency of the new CEO—FLSmidth aims to deepen its relationships with customers and become more integrated into their operations.

MissionZero: Sustainability as a Commercial Imperative

Underpinning FLSmidth's growth strategy is its ambitious 'MissionZero' program, which aims to enable zero-emissions mining by 2030 while achieving carbon neutrality in its own operations. This is not merely a corporate social responsibility initiative but a central pillar of its commercial strategy. As the global mining industry faces increasing pressure from investors, regulators, and society to decarbonize and reduce its environmental impact, the demand for sustainable solutions is soaring.

FLSmidth is positioning itself as the technology provider of choice for miners looking to improve efficiency, reduce water usage, and eliminate emissions. By focusing its R&D and engineering prowess on this goal, the company is betting that green technology will be a powerful competitive differentiator in the industry's next growth cycle.

Laaksonen's leadership, with its emphasis on operational performance and customer-centric solutions, is expected to bring a pragmatic and results-driven approach to executing the MissionZero agenda. His focus on delivering tangible value will be crucial in translating sustainability ambitions into commercially viable products and services that help clients meet their environmental targets and improve their bottom line. As the mining sector evolves, FLSmidth's ability to innovate in sustainability will be intrinsically linked to its success.