Miko-Ove Niinemäe is Appointed the New Manager of Arco Vara AS

Tarmo Sild resigned from the Management Board of Arco Vara AS and was elected by the General Meeting to the Supervisory Board of Arco Vara AS.

The Supervisory Board of Arco Vara AS elected Miko-Ove Niinemäe (1993) as a new member of the Management Board of Arco Vara AS. According to the decision of the Supervisory Board, Miko-Ove Niinemäe's authority will take effect on 30 April 2020 and will be valid for three years.

Miko Niinemäe joined the development team of Arco Vara in 2017, obtaining outstanding results in the development of the Kodulahe district. The duties of the new member of the Management Board will be to continue the Group's development projects during the period impacted by the economic crisis, to initiate new developments and to achieve a return on equity of 20 % per year.

Education:
Tallinn University of Technology, Faculty of Engineering BSc; 2015
Tallinn University of Technology, Faculty of Engineering MSc; 2018

Work experience:
2012-2017 Project sales; QLS Eesti OÜ
2017-2019 Project Manager; Kodulahe OÜ

Miko-Ove Niinemäe is the 2015 and 2016 Estonian champion in the rally class EMV3.

Miko-Ove Niinemäe is in the Management Board of Babyface OÜ (registry code 12182816).

The new manager owns 100 shares of Arco Vara AS.

The to date member of the Management Board, Tarmo Sild, was elected Chairman of the Supervisory Board of Arco Vara AS.

Evelin Kanter
CLO
Arco Vara AS
[phone]
[e-mail]