Appointment of the Chairman of the Management Board

17.03.2020 Market Announcements

The Supervisory Board of AS Harju Elekter decided at its meeting held on March 16, 2020 to appoint the current member of the Management Board, Tiit Atso, as Chairman of the Management Board as of May 4, 2020.

Tiit Atso (born 1982) has extensive experience in financial management, holding the position of Chief Financial Officer of Harju Elekter Group since 2014 and member of the Management Board since 2016. Prior to that, Tiit Atso has worked in several financial positions, previously as Financial Manager for development projects (2012-2014) and Financial Controller (2010-2012) at Viru Keemia Grupp AS and as Audit Project Leader at Deloitte Audit Eesti AS (2007-2010). Tiit Atso holds a bachelor’s degree in Financial and Management Accounting and a master’s degree in Environmental Economics from Tallinn University of Technology. Tiit Atso does not own shares of AS Harju Elekter.

Starting from May 4, 2020 the Management Board of AS Harju Elekter will continue with two members – Tiit Atso (Chairman of the Board) and Aron Kuhi-Thalfeldt (Member of the Board).

Harju Elekter Group is a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a well-known and respected manufacturer in Scandinavia. Harju Elekter’s main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The core business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate. Harju Elekter Group’s plants in Estonia, Finland, Sweden and Lithuania employ 800 specialists, and 2019 sales revenue of the Group was 143 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.

Endel Palla
Chairman of the Supervisory Board
+372 5047785