AS KALEV

ANNOUNCEMENT

25.08.1999

 

The Supervisory Board of AS Kalev resolved to satisfy the resignation 

application of Tõnis Allik, the Chairman of the Management Board and 

Managing Director of the company.

Tõnis Allik will resign from these positions as of 25.08.1999. 

 

According to Tõnis Allik, his resignation was mostly due to the 

company’s owners’ and manager’s conflicting visions about the company’s 

development in the following aspects:

1. Investments needed for development of the company and sources of 

financing;

2. Completion of reorganization in the Ukrainian Logistics Center and 

continuance of active sales on the Ukrainian market.

 

The new Chairman of the Management Board of AS Kalev is Boris Oks 

(current Production Director of AS Kalev), who has been working with 

the company as of October 1997.

The Management Board also appointed Priit Kotkas (former Investment 

Manager of AS Talinvest) the new Managing Director of the company as of 

25.08.1999.

Priit Kotkas has agreed to fill the position after the extraordinary 

general meeting of AS Kalev shareholders has released him from the 

duties of the company’s Supervisory Board.

 

 

Tiina Altmets

Information Manager

+372 65 08 711