Chairman of the Enefit Green management board Aavo Kärmas will resign in agreement with the supervisory board as of 1 July 2024.
In near future, the supervisory board of the Estonian developer will start the recruitment process for a new chairman of the management board.
Kärmas (pictured) took on the role in July 2017.
“I joined the company with the aim of significantly growing the business and getting the company listed on the stock exchange,” he said.
“When we started, we had a team of 90 employees and production units were located only in Estonia, plus there was one power plant in Latvia. We now operate in five countries with a team of 127 dedicated employees.
“Upon completion of the projects currently under construction, the production capacity will grow to more than double compared to the situation seven years ago.
“Enefit Green also has a large investor community – 64,000 shareholders in whose interest we have been developing the company and creating value.”
Chairman of the supervisory board Andrus Durejko said: “The activities have been expanded to Finland, Latvia, Lithuania and Poland and a successful listing of shares has been carried out. Enefit Green is a strong organisation with a capable and dedicated team.”
He added under the leadership of Kärmas, Enefit Green has grown into the largest wind energy producer in the Baltics and one of the largest companies listed on Nasdaq Baltic stock exchanges.
In addition to Kärmas, the Enefit Green management board includes Innar Kaasik (responsible for production), Veiko Räim (responsible for finance) and Andres Maasing (responsible for developments).