Maive Rute steps down as Bank of Estonia deputy governor ({{contentCtrl.commentsTotal}})

Maive Rute
Maive Rute Source: Siim Lõvi /ERR

Bank of Estonia deputy governor Maive Rute is stepping down from her post to work for the European Commission, in a role she previously held.

Rute, who has been in the central bank role since last October, resigned unexpectedly and will return to her previous job as deputy director general of the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW).

"When it came to the proposal of joining one of the most influential management teams on the European Commission, this was not an easy decision. The bank has a constructive working atmosphere, and experts with outstanding knowledge," she said Wednesday.

Madis Müller, Bank of Estonia governor, said that he was sorry to hear of Rute's resignation, and praised her work during her short stint at the central bank.

"During his short but very active career at the central bank, Maive was able to launch a number of forward-looking projects and was an inspiring example to us, with her energy and balance. At the same time, I understand Maive's choices and decision to take on a new challenge."

Rute's last working day at the Bank of Estonia and who will replace her has yet to be announced. Madis Müller is tasked with nominating a new deputy.

DG GROW is one of the European Commission's major directorates-general, which formulates and implements a number of the European Union's key policies: the free movement of goods and services, industrial and business development and regulation. The field is curated by French Commissioner Thierry Breton.

Maive Rute will be responsible for the free movement of goods in the internal market, industrial policy and innovation, standardization and the main European industries, from the production of raw materials to the automotive, chemical, textile, creative and tourism industries. 

Rute worked as Director of Enterprise Policy in the same Directorate-General from 2005-2009. Her husband also works for the European Commission.

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Editor: Andrew Whyte

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