Veljo Aleksandrov takes helm of Eesti Energia Kaevandused AS

The supervisory board of Eesti Energia Kaevandused AS today appointed Veljo Aleksandrov as the chairman of the company's management board. Aleksandrov, 46, previously was at the helm of Eesti Energia Elektritööde AS. Aleksandrov will take his post on 6 September, and he will be signed to a five-year contract.

"Veljo Aleksandrov has proved his worth as an effective leader. The subsidiaries of the group he has led have achieved good results and claimed a respectable market position. Aleksandrov's valuable leadership experience is a strong foundation for continued development of the group's largest company, which also happens to be one of the most important companies in Ida-Viru County," said chairman of Eesti Energia's management board Sandor Liive.

In his 11 years at Eesti Energia, Aleksandrov has been in charge of the group's subsidiaries Eesti Energia Elektritööde AS and Elpec as well as serving as Eesti Energia administrative director.

His greatest accomplishments include the successful reorganization of Elpec – the company had specialized in designing high-voltage projects but switched to medium- and low-voltage equipment, resulting in increased effectiveness and profitability for the company.

Under Aleksandrov, Eesti Energia has significantly expanded the range of service enhancements offered to clients and has entered the electrician work market aimed at home consumers. In spite of the sluggish construction market, the new company Eesti Energia Elektritööde AS was also in the black by the end of its first financial year.

"Use of oil shale and the ability to turn it into power and liquid fuels is the greatest value offered by Eesti Energia and has seen strong development over the decades. My primary goal in my new position is to ensure that the first link in our value chain – mining oil shale – would function impeccably and that deliveries of oil shale would be ensured for the short and long term in the interests of both Estonia's own reliability of power supply as well as the interests of the domestic liquid fuels industry," said Aleksandrov.

Eesti Energia Kaevandused is part of the Eesti Energia Group and is engaged in the sustainable mining of oil shale reserves to supply fuel and raw materials to electricity and shale oil producers. The company has four mines and a railway transport unit.

Eesti Energia Elektritööde AS is part of the Eesti Energia Group and performs the full range of electrical work for households across Estonia ranging from project-based construction and renovation to replacing power outlets.

Priit Leipalu, the head of the construction division of Eesti Energia Elektritööde AS, will serve in the capacity of the company's director until a new one is appointed.

Marina Bachmann
press officer
Eesti Energia AS
Tel: 71 51 218
GSM: 56 456 600