Second management board member may leave Nordica

Nordica ex-CFO Ahto Pärl.
Nordica ex-CFO Ahto Pärl. Source: Eero Vabamägi/Postimees/Scanpix

Following on the heels of the resignation of Jaan Tamm, CEO of the Estonian state-owned airline Nordic Aviation Group, which operates under the Nordica brand, CFO Ahto Pärl may also leave the company by autumn, daily Postimees reports.

Pärl, who is alongside Tamm a member of the airline's management board, on Thursday had the length of his employment contract shortened. Pärl said that while usually the management board members have a contract of five years, he had the length of his contract significantly cut by way of exception.

His contract is now to last until September, after which he will decide whether he will continue on the team of a new CEO.

"I gave the new head of the company the opportunity to form a team according to their wish and vision," Pärl explained. "The opportunity exists for us to continue together or to part ways. This can only take place on the basis of a bilateral agreement. I will definitely support the new CEO until then, as there are a number of ongoing projects that need to be handled right away. At the same time, we can see how our cooperation will turn out."

According to Postimees, the reasons behind Tamm's unexpected resignation are differences of opinion between Nordica and LOT Polish Airlines regarding the future of the Estonian airline. Nordica supervisory board chairman Peeter Tohver, however, said that there have been no big disputes with LOT and this is not the reason behind Tamm's leaving.

Nordica CEO Jaan Tamm on Thursday submitted his resignation to the company's supervisory board, which was duly accepted.

Editor: Aili Vahtla

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