Management

Eesti Energia's directing bodies are the General Meeting of Shareholders, the Supervisory Board, the Management Board and the Audit Committee. The General Meeting is the highest directing body of the company, and it appoints the members of the Supervisory Board. The Supervisory Board appoints the members of the Management Board of the company and supervises the company's operations. The Audit Committee advises the Supervisory Board on matters of supervision.

The sole shareholder of Eesti Energia is the Republic of Estonia, represented at the shareholders' meeting by the Minister of Finance.

The Management Board of Eesti Energia is responsible for operational management and has five members, who are elected by the Supervisory Board. The Chairman of the Management Board is also the Managing Director or CEO of the Group. The principles of remuneration for members of the Management Board are regulated by the State Assets Act, under which the Supervisory Board sets the level of remuneration.

Hando Sutter

Chairman of the Management Board

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Andres Vainola

Member of the Management Board, Mining and Maintenance

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Raine Pajo

Member of the Management Board, Energy Production

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Margus Vals

Member of the Management Board, Projects, Technology and New Business

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Andri Avila

Member of the Management Board, Financial Director

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The Supervisory Board of Eesti Energia is an executive body planning the operations and organising the management of the group, and supervising the activities of the management board. The Supervisory Board consists of eight members.

Väino Kaldoja

Chairman of the Supervisory Board

Kaie Karniol

Member of the Supervisory Board

Danel Tuusis

Member of the Supervisory Board

Ants Pauls

Member of the Supervisory Board

Andres Liinat

Member of the Supervisory Board

Ivo Palu

Member of the Supervisory Board

Einari Kisel

Member of the Supervisory Board

The role of Eesti Energia's four-member Audit Committee is to advise the Supervisory Board on matters of supervision.

Kaie Karniol

Chairwoman of the Audit Committee

Ants Pauls

Member of the Audit Committee

Danel Tuusis

Member of the Audit Committee

Mait Palts

Member of the Audit Committee

Governance principles

The common ambition of Eesti Energia's Supervisory Board and Management Board is to develop and manage Eesti Energia so as to set a good example to every business in Estonia. This concerns strategic clarity, good management principles, efficient operations and economic results, as well as successful cooperation with all stakeholders.

The Eesti Energia group is governed based on the owner's expectations, the corporate vision, the agreed strategic objectives, values, and legislation and other documents regulating the activities of business groups and group companies.