M-real president and chief executive Jorma Vaajoki is leaving the firm at his own request, with Jouko Jaakola stepping into his role.

"It was not a sudden decision, but something he had been discussing with both the board and myself for sometime," said Jaakola.

The news comes as a surprise as the group is still going through its massive transition following its name change from Metsa-Serla, and the incorporation of MoDo Paper and Zanders (PrintWeek, 23 March).

Jaakola, who is currently the senior executive vice-president and chief operating officer, will take up his new position from 1 December.

Jaakola's present duties will be merged with his responsibilities as president and chief executive.