Jun 02, 2025 (MarketLine via COMTEX) --
Finland-based circular fashion and textile technology Infinited Fiber Company has announced its CEO Petri Alava stepped down on 31 May 2025.
Petri Alava who has held the CEO position since co-founding Infinited Fiber in 2016 will remain involved with the company as senior advisor until the end of November.
The companyaEUR(TM)s current chief operating officer, Sahil Kaushik, has assumed the position of acting CEO beginning 1 June 2025, while the board of directors search for a permanent CEO replacement.
In a LinkedIn post, Alava said that he will remain involved as one of the major shareholders and board observer.
He said: aEURoeTen years is a long time to lead a growth company aEUR" and a natural point for change. IaEUR(TM)m incredibly proud of the journey weaEUR(TM)ve made as a team: weaEUR(TM)ve built something truly valuable aEUR" a recycled cotton-like fibre with exceptional market fit, proven demand, and long-term partnerships. Now, with market dynamics shifting and Infinited Fiber entering a new strategic phase, itaEUR(TM)s the right time to pass the baton aEUR" from creating value to scaling it. IaEUR(TM)m happy to support the team during the transition.aEUR
Alava has played a key role in positioning Infinited Fiber Company as one of the leaders in textile-to-textile cotton recycling over the last decade.
His leadership saw the company's circular fibre Infinna gain substantial market traction through long-term offtake agreements worth more than ae200m ($228.43m) with major fashion brands including Patagonia, PVH and H&M.
Infinited Fiber Company board of directors chairman Andreas Tallberg said: aEURoeOur product has been validated by the market aEUR" the value is now established. The next strategic priority is to turn that value into profitable industrial scale, by optimising cost and capital efficiency. WeaEUR(TM)re grateful for the work Petri and the team have done and excited to begin the next chapter aEUR" with Sahil, who brings deep experience in scaling industrial production and driving efficiency in the chemical industry, now leading the transition.aEUR
Interim CEO Sahil Kaushik added: aEURoeInfinna is a breakthrough innovation thataEUR(TM)s more relevant than ever. ItaEUR(TM)s a privilege to lead this talented team, together with world-leading brands supporting us as investors. We have a clear path forward and a solid foundation for the next phase.aEUR
The company is keeping competitiveness as the focus of its next phase of industrial scale-up. Operational excellence and readiness for significant industrial investment are now prioritised, the company noted.
In March last year, Infinited Fiber Company completed a ae40m ($43.75m) development financing round with backers including the Inditex Group, Youngone, Goldwin and the CEO of Uniqlo-owner, Fast Retailing.
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COMTEX_466024853/2227/2025-06-02T09:45:13
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