The agenda for the committee's first meeting includes an overview of state enterprises as well as the approval of the principles and rules and regulations of the committee's rules of procedure.

"The principal job of the naming committee is to find members for the supervisory boards of state-owned companies who are able to work as a team and protect the interests of the state as owner," said Minister of Finance Sven Sester. "I wish them success in this."

The naming committee will begin working with the approximately 150 total members of the supervisory boards of 31 state-owned companies. The committee will provide proposals regarding the appointment and recalling of supervisory board members, the total number of supervisory board members as well as their pay.

The committee is comprised of Erkki Raasuke, Gunnar Okk, Sven Pertens and David James O'Brock-Kaljuvee, four well-known business and management experts. Secretary-General of the Ministry of Finance Veiko Tali and a rotating member will likewise represent the public sector on the committee.

State-owned companies in Estonia hold a total of €6 billion in assets and employ nearly 15,000 people. The government approved the formation of the naming committee on Jan. 19.