Eesti Energia starts search for a new Chairman of the Board

The Supervisory Council of Eesti Energia has decided not to extend the contract of the current Chairman of the Board, Hando Sutter, and his mandate will expire in accordance with the current agreement on March 31, 2023. The Supervisory Council will start the search for a new Chairman of the Board in the autumn of 2022.

The current contracts of all other board members will also expire on March 31, 2023. This includes Andri Avila, Raine Pajo, Margus Vals and Agnes Roos.

The Supervisory Council of Eesti Energia recognizes Hando Sutter for his work. He has been the Chairman of the Board since 1 December 2014, and his contract had been extended twice in the past.

“Under the leadership of Hando Sutter, Eesti Energia has undergone ground-breaking changes: developed customer-friendly energy solutions, invested in renewable energy production both in Estonia and in neighbouring countries, continued the oil shale valorisation process, and developed the company's management processes and internal efficiency. We would like to thank him for his great commitment and results,” said Anne Mere, Chairwoman of the Supervisory Council .

Hando Sutter acknowledged the supervisory council for the process of finding a new chairman had been started well in advance.

“The current time in energy sector is stormy in many ways. Eesti Energia continues to undergo rapid changes as well. I have had the privilege of leading this journey for 8 years with a great team. A particularly difficult winter lies ahead, and early clarity about the new chairman will help to hand the baton over smoothly. I will give my best until my last day at work.”

The new chairman of the management board of Eesti Energia is expected to commit to fulfilling the company's owner's expectations by supplying Estonian business and private consumers with both market-based electricity and regulated electricity as of 1 October. It is also important to continue to grow in export markets. When increasing the company's competitiveness and implementing strategic plans, the security policy situation, as well as climate and energy policies in both Estonia and the European Union must be taken into account.

In addition to the above, the Supervisory Council wishes to emphasize the specific challenges in its expectations for the next Chairman of the Management Board.

“The head of the company is expected to continue focusing on innovation and development projects in large-scale energy production in order to ensure the reduction of our environmental footprint, while taking into account the company's role in ensuring the security of supply of electric energy in Estonia. The organization must be value-driven with a broad-based management team. Eesti Energia affects the competitiveness of the entire Estonian economy through energy, and therefore the company must actively cooperate with the state, market participants and communities both in Estonia and in export markets,” Mere concluded.

Eesti Energia's strategy is to provide people with beneficial and convenient energy solutions as well as to produce energy in an increasingly environmentally friendly manner. It is necessary to continue to invest in the growth of renewable energy production and to carry out the transition from an oil shale electricity producer to a carbon-neutral energy and chemical industry.