Merko Ehitus group and Merko Ehitus Eesti will have new Chairmen of the Management Boards
As of 1 January 2024, Ivo Volkov, current Chairman of the Management Board of Merko Ehitus Eesti, will replace Andres Trink as Chairman of the Management Board of Merko Ehitus group. Tõnu Toomik and Urmas Somelar will continue as Members of the Management Board of the group. Jaan Mäe, current Member of the Management Board of Merko Ehitus Eesti, will take over as Chairman of the Management Board on 1 January and Veljo Viitmann will continue as a Member of the Management Board.
The term of office of Andres Trink, who has been working as the Chairman of the Management Board of AS Merko Ehitus group since 1 January 2012, ends on 31 December 2023. Due to moving to Berlin for family reasons, Andres Trink will not extend his contract as a Member of the Board. Toomas Annus, Chairman of the Supervisory Board of AS Merko Ehitus will propose to the next upcoming general meeting of shareholders to appoint Andres Trink as a Member of the Supervisory Board of Merko Ehitus group.
„Andres Trink led the company for 12 years, and during this time, Merko’s market position has strengthened and its value has increased, we have received the targeted return on equity. At the time Andres joined Merko, the company was among the ten strongest construction companies in the Baltics, today we can boldly say that we are among the top three among both, construction companies and residential developers. Last year, the number of apartments handed over to homebuyers reached almost a magical thousand, current cooled-off apartment market is counterbalanced by our strong secured order-book of construction contracts. By Andres’s joining the Supervisory Board, his experience and knowledge will not get lost for the company. On behalf of the shareholders, I believe that Merko will do just as well with the new Chairman of the Management Board,” said Toomas Annus, Chairman of the Supervisory Board of Merko Ehitus.
„On the one hand, there is a nagging feeling that, although we have achieved some things at Merko, there is still a lot to be done, to adapt quickly to the changing conditions in the construction and real estate markets. On the other hand, over the last six months, it has become clear to me that operational management from a distance is not the best long-term solution. We have professional teams and I think it is right that the new group leader comes from within the company. Ivo has done a good job as the head of the group’s largest subsidiary, and I am pleased that he has accepted the offer. I would like to thank all my colleagues for their good cooperation and I look forward to contributing to Merko’s future as a Member of the Supervisory Board,“ said Andres Trink.
„These are turbulent times for construction and property development. For over thirty years, Merko has managed successfully in all circumstances thanks to a dedicated and professional team. Merko has made good and forward-looking decisions and achieved a strong position in all its home markets. It is a great honour for me to take over the leadership of the entire Merko team. I will do my utmost to ensure that our steady course continues in the future,“ said Ivo Volkov.
Ivo Volkov, who has been leading Merko Ehitus Eesti since the beginning of 2020, has previously held various positions in the international automotive company PKC Group, including Vice President of Operations in Europe and South America, Regional Director for South America and Chairman of the Management Board and Member of the Management Board of PKC Estonia. Previously, he has served as Chairman of the Board of Cargotec Estonia and different executive positions within the Elcoteq group.
On 1 January, Jaan Mäe, the current Member of the Management Board, will take over as the Chairman of the Management Board of Merko Ehitus Eesti, while Veljo Viitmann will continue as a Member of the Board. Jaan Mäe has worked at Merko for over 25 years, the last 12 as a Member of the Management Board of Merko Ehitus Eesti.
„I thank the Supervisory Board of Merko Ehitus Eesti for their trust! I am delighted to lead a highly professional, hard-working and collaborative team. It is a great pleasure that we have been working with many of the Merko team members for many years, but we also have a lot of new and bright talents. Stable on the one hand and full of drive on the other – that’s what a contemporary and dynamic company should be like,“ said Jaan Mäe.