Drone manufacturer Krattworks said on social media that Müller's role will be to strengthen the company's financial and management capabilities as it enters a new phase of growth.

Commenting on his new role, Müller said he was looking forward to the opportunity to contribute to a rapidly developing company, particularly because it operates in the defense sector, which is currently of critical importance in both Estonia and Europe.

Madis Müller served as governor of the Bank of Estonia from 2019 to 2026, having previously served as its deputy governor. From 2006 to 2011, Müller was a portfolio manager at the International Finance Corporation (IFC) where he worked on equity investments.

He has also worked at the World Bank as an adviser and senior adviser to the executive director representing the Nordic and Baltic countries, as an economic adviser to Estonia's prime minister and finance minister and as a consultant.

Müller earned a master's degree in finance from George Washington University in the United States in 2006. In 1999, he graduated from Estonian Business School with a degree in international business administration, banking and finance.

Krattworks was founded in 2018 by Tõnis Voitka and Mattias Luha. Äripäev reported that the company's revenue increased nearly 28-fold in a year: from around €500,000 in 2024 to €19.5 million last year. The company plans to increase its revenue to hundreds of millions of euros in the coming years. Its operating profit was €8 million last year, compared with a loss of €500,000 the year before.

Recent examples of high-ranking public servants moving to the defense industry after leaving office include former EDF commander Martin Herem, former EDF Division commander Veiko-Vello Palm and former Ministry of Defense Permanent Secretary Kusti Salm.

--

Follow ERR News on Facebook and X and never miss an update!