The Appointments Committee (Riigifirmade nõukogu) created in 2020 to appoint members of the boards of state-owned companies is nearing the end of its three-year mandate. Minister of Finance Annely Akkermann (Reform) said that the nominees for the next term have been finalized and will be confirmed soon by the government.
Minister Akkermann said that although she is not satisfied with the current system of the nominating committee members, she does not have a clear proposal how to reform the system and has no plans to do so during her term.
"As minister of finance, I am responsible for suggesting candidates for the new nomination committee and these candidates have been thought out. This is an ongoing task," Akkermann said.
"I have submitted a bill to the government wherein the prime minister can choose which ministers will propose new nomination committee members. The new members will be nominated by [Minister of Economic Affairs] Riina Sikkut (SDE), [Minister of Justice] Lea Danilson-Järg (Isamaa) and the minister of finance. They have nominated their candidates, and the minister of finance will then present their lists to the government," she explained.
The prime minister will decide the publication date of the new names.
Current nomination committee members were elected on January 27, 2020.
Kaido Padar, Argo Luude, Toomas Tamsar and Reet Roos are the committee's current members.
A member of the committee must be a recognized business and management expert with extensive international management experience and an impeccable professional and corporate reputation and they should not be in a conflict of interest with publicly owned companies, the State Assets Act prescribes.
The nomination committee is responsible for recommending to the minister who is administering the company, the election and removal of board members, as well as their number and compensation.
There are around 130 members on the boards of directors of state-owned companies.
Editor: Kristina Kersa