Skip to main content

Change in the management of Arco Vara AS

Miko Niinemäe, Chairman of the Board at Arco Vara is to leave the company, and the Supervisory Board has begun searching for a new board member, who will take over the leadership by the end of the year at the latest.

Miko Niinemäe, who joined Arco Vara in 2017 and was elected as the company’s CEO in 2020, said he can leave with peace of mind. “Seven years in one organization is quite a long period these days. Starting as the youngest manager of a listed company on the Tallinn Stock Exchange, a career turn at some point is quite expected. I felt that this moment has now arrived,” explained Niinemäe.

According to Tarmo Sild, the Chairman of the Supervisory Board at Arco Vara, Niinemäe’s desire to resign and try something else is understandable, as he has successfully proven himself in real estate development. “On behalf of the Supervisory Board, we wish Miko only the best for the future. During his management, the volume of Arco Vara’s developments has increased, the scope of activity now also includes construction, all years have been profitable, and in addition to growth, the company has paid dividends.”

The Supervisory Board has begun meetings with candidates for the new leader. “Arco Vara’s ambition is to grow its balance sheet to at least one hundred million euros, and to be an innovative, growing, and profitable real estate company. Arco’s team needs an excellent conductor, and this position is only for the strong ones,” described Tarmo Sild expectations for the new leader.

Arco Vara confirms that the departure of the CEO will not affect Arco Vara’s strategy, and the plan to pay dividends and grow the company under experienced leadership remains valid.

Tiina Malm
CFO
Arco Vara AS
+372 614 4630
tiina.malm@arcovara.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.