Paavo Nõgene to step down as Tallink CEO
After eight years at the helm, Paavo Nõgene is stepping down as CEO of listed Estonian shipper Tallink this spring, the company announced Friday.
Enn Pant, chairman of the supervisory board at AS Tallink Grupp, praised Nõgene as "an exceptional leader" who steered the company through difficult times, noting that Tallink is now well-positioned for the future.
After leading Tallinn for eight years, including through the COVID-19 pandemic, the war in Ukraine and the economic downturn in the shipper's countries of operation, Nõgene said it's time for him to pass the baton so a new leader can continue to guide the company forward.
"Tallink is an exceptionally strong company with truly great employees," he said, thanking its nearly 5,000 employees and supervisory board for their cooperation.
Nõgene's final day as a member of the management board will be May 22. The company's supervisory board will begin the search for a new CEO.
Tallink is Estonia's largest passenger and cargo shipping company, operating ferries between Estonia, Finland and Sweden. The publicly traded company, listed on the Nasdaq Tallinn stock exchange since 2005, also runs four hotels in Tallinn and Riga.
Last week, it announced plans to lay off an undisclosed number of staff.
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Editor: Aili Vahtla
