CEO of Nordecon AS not to continue on his position

Jaano Vink, CEO of Nordecon AS informed the council that he will not continue as CEO of the company after the expiry of his contract of service on 31 July 2017, informs the council of Nordecon AS. The new CEO will be appointed starting from 01 August 2017, the council has six months to find a suitable person for the position.

Jaano Vink has been CEO of Nordecon AS since 2002 and resignation is his own request. “Fifteen years as CEO of Nordecon AS have been a very exciting and challenging path, but at one point you have to be honest to yourself as well as to your team and pass the baton, for the development to continue,” says Jaano Vink , CEO of Nordecon AS. “I have always believed that change of managers should take place during the time, when the company is doing well and today we can say that it is time.”

“We have plenty of time to announce the new CEO,” says Toomas Luman , Chairman of the Council of Nordecon AS. “My personal wish would have been for Jaano to continue for another 3-year period, but on the other hand, 15 years is a really long time and the company is doing well today. As chairman of the Council, I would prefer to see the next CEO emerging from the company’s strong team. It is clear that in addition to a strong aspiration for facing such a serious challenge, the candidate has to have the necessary qualities and abilities. The council will keep its eyes open to find the best possible candidate."

Nordecon Group ( www.nordecon.com ) comprises companies that are focussed on the project management of constructing buildings and civil engineering works, and general contracting. The Group’s companies are geographically situated in Estonia, Ukraine, Finland and Sweden. The Group’s parent company Nordecon AS is registered and located in Tallinn, Estonia. The group comprises more than 10 subsidiaries in addition to the parent company. The Group’s consolidated turnover in the 2015 financial year was 145.5 million Euros. At the moment Nordecon Group employs about 700 people. Since 18 May 2006 the parent company has been listed on the NASDAQ Tallinn Stock Exchange.

         Andri Hõbemägi          Nordecon AS          Head of Investor Relations          Tel: +372 6272 022          E-mail: andri.hobemagi@nordecon.com          www.nordecon.com