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Supervisory Council of AS Tallinna Vesi recalled the CEO

Tallinna Vesi
·2-min read

Today, on the 25th of March 2021, the Supervisory Council of AS Tallinna Vesi resolved to recall Karl Heino Brookes from the position of the member of the Management Board with the effective date as from 31 March 2021. Mr Brookes was appointed as a Management Board member in March 2014 and subsequently became CEO and Chairman of the Management Board with effect from 1 June 2014. Recalling of Mr Brookes from the Management Board is related to the sale of shares held by United Utilities (Tallinn) B.V. in the company to the City of Tallinn and OÜ Utilitas.

Said Mr Brookes: “It has been a pleasure and an honor to manage AS Tallinna Vesi for the last 7 years and I would like to thank the Supervisory Council for their continued trust and support throughout this period. I would also like to wish the City of Tallinn and Utilitas all the very best for the future.”

Said Chairman of the Supervisory Council, Mr. Simon Gardiner: “I would like to thank Karl on behalf of the Supervisory Council for his outstanding leadership and contribution to the operational progress of AS Tallinna Vesi and for developing a strong and talented leadership team beneath him. He leaves the company in a strong position.”

The Management Board will continue with two members Kristi Ojakäär and Aleksandr Timofejev. The resolution to elect an additional member of the Management Board will be made by the new composition of AS Tallinna Vesi’s Supervisory Council after the completion of the sale of the shareholding of United Utilities (Tallinn) B.V. The parties to the share sale agreement intend to complete the transaction on 31/03/2021.

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See also the previous stock notices on the following links:

Contemplated changes in substantial shareholding (omxgroup.com)
CORRECTION: Contemplated changes in substantial shareholding (omxgroup.com)
Entry into force of the share sale agreement between OÜ Utilitas and the shareholders with substantial shareholding in AS Tallinna Vesi (omxgroup.com)
Competition Authority granted the City of Tallinn and OÜ Utilitas the permission to exercise joint dominant influence over AS Tallinna Vesi (omxgroup.com)

Laura Korjus
AS Tallinna Vesi
Head of Communications
(+372) 62 62 271
laura.korjus@tvesi.ee