Tiivas has previously served as director of the Tallinn Stock Exchange (TSE), held senior positions at East Capital and most recently served as board chair at energy group Liwathon E.O.S.

EUIF supervisory board chair Aaro Lode noted that competition for the role of board chair was stiff, attracting 50 applications.

"In Gert's case, his strong knowledge of economics and extensive international work experience were decisive factors," Lode said.

 "The supervisory board believes that Gert Tiivas will be able to stand up for the EUIF's interests, develop the fund and be a good partner to employees, employers and the government alike," he added.

Tiivas noted that leading the EUIF is a role that comes with significant responsibility, as the fund plays a major role in Estonian society.

"The EUIF has done well at fulfilling its duties," the incoming chief said. "It is important that it continues to operate efficiently in the future as well, with high-quality, effective and necessary services."

Gert Tiivas has studied at universities in the United States, earning a bachelor's degree in economics from Bentley University and a master's degree in economics and international relations from George Washington University (GWU).

The fund's current director, Meelis Paavel, announced late last year that he did not intend to seek another term as EUIF board chair after his contract expired.

The new board chair's five-year term will begin on April 21.

--

Follow ERR News on Facebook and Twitter and never miss an update!