Anne Mere, chair of Eesti Energia's Supervisory Board, said that, after interviewing five or six candidates for the post in October, the company has now narrowed down its search to four, as the hunt for a new leader continues.

"Further meetings are planned for this week. After that, we will see who makes it through to the final," said Mere.

Previously, Mere said, that Eesti Energia was aiming to identify one or two candidates by December, with whom the company will begin substantive negotiations to determine which one ultimately takes over as its new head.

Mere said, that all four remaining candidates are strong professionals with considerable leadership experience, though she refrained from mentioning them by name at this stage.

As things stand, Eesti Energia plans to announce the name of its new leader before the year is out. "If we don't come up against any major hurdles in the final part of the process, we will have a new leader this year," Mere said, adding, that while an announcement may even be possible before Christmas, the original target of early next year remains.

After an open call for the position, which closed on October 3, Eesti Energia received applications from 27 candidates. A further 23 were added to the list following a targeted search, bringing the total to 50.

The successful candidate will take over as the new head of Eesti Energia on April 1 next year.

Eesti Energia's Supervisory Board announced in September that it would not be extending the contract of its current management board chair Hando Sutter, whose mandate is due to expire on March 31, 2023.

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