Speculation On New CEO of Eesti Energia Rife

10/1/2014 3:44 PM
Category: Economy

The weekly Eesti Ekspress reports that the new head of Eesti Energia will be Hando Sutter, who currently works as the regional market manager for the Baltic countries and Russia in the energy company Nord Pool. The chairman of the board of Eesti Energia says that a decision has not been made yet.

Eesti Energia's current CEO Sandor Liive lost his chance at re-election when his supporters left the company board, writes Eesti Ekspress.

Ekspress also reports that Sutter has already been chosen as his successor, although it remains unclear when his appointment will be officially announced.

However, Erkki Raasuke, the chairman of the board, has denied this. Raasuke told Postimees: "The Board of Eesti Energia has not reached a decision in regard to the new CEO. The election meeting should take place no later than October 16."

He added: "I can confirm that Hando Sutter has not set up his candidacy and I am sorry that this information has been published in such a form. As a company listed in the stock market we are obliged to make a press release on these decisions."

However, Hando Sutter need not have applied for the position himself, for it is known that a number of other candidates were made targeted offers. That Sutter was nevertheless among the people considered for the job remains a possibility.

Raasuke has said that before the next board meeting he is unable to comment on whether the allegations are leaked information or pure speculation.


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