On 29.09.2020, the Supervisory Board of AS Tallinna Sadam decided to extend the terms of office of Valdo Kalm, Chairman of the Management Board and Marko Raid, Member of the Management Board, for a new 3-year term from the end of the previous term, i.e. Valdo Kalm for the period of 01.03.2021-28.02.2024 and Marko Raid for the period of 18.04.2021-17.04.2024.

The Management Board of Tallinna Sadam consists of three members, in addition to the above, Margus Vihman, Member of the Management Board and CCO, whose extension of his term of office was not discussed yet, as his existing agreement is valid until 31.10.2021.

Aare Tark, Chairman of the Supervisory Board of Tallinna Sadam, recognized the members of the Management Board for their work. “Tallinna Sadam is a well-run listed company. Last year, the first full year on stock exchange brought the best results ever, and we were able to pay the promised dividend to our nearly 14,500 shareholders. The co-operation between the Supervisory Board and the Management Board is efficient - we have a common view for innovative business solutions and a strategic vision for the company's future, which is especially important in these difficult times,” said Tark and added that “the Supervisory Board unanimously believes that both for the purpose of the sustainable operation of the company and in order to ensure the confidence of people, it is wise to make a decision to continue the management board within a reasonable time before the expiry of their term of office.”

Valdo Kalm has been the Chairman of the Management Board of AS Tallinna Sadam since March 2016 and the Chairman of the Supervisory Boards of the subsidiaries OÜ TS Laevad and OÜ TS Shipping and the associated company AS Green Marine. Kalm is also a member of the board of the Estonian Employers' Confederation and the Estonian Ports Association. Previously, Kalm has managed AS EMT (now Telia Eesti), AS Eesti Telekom and NGO Baltic Ports Organization and was a member of the Supervisory Board of AS Baltika. Valdo Kalm has a master's degree in automation and telemechanics from Tallinn University of Technology. Valdo Kalm currently owns 2828 shares of Tallinna Sadam.

Marko Raid has been a member of the Management Board of AS Tallinna Sadam since August 2015 and a member of the Supervisory Boards of the subsidiaries OÜ TS Laevad and OÜ TS Shipping and the associated company AS Green Marine. Raid has worked Tallinna Sadam since 1997 and has been the company's CFO since 2006. Marko Raid holds a master's degree in International Business from Concordia International University in Estonia. Marko Raid currently owns 5,000 shares of Tallinna Sadam.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2019 serviced 10.64 million passengers and 19.9 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. According to audited financial results, Tallinna Sadam group’s sales in 2019 totaled EUR 130.5 million, adjusted EBITDA EUR 74.3 million and net profit EUR 44.4 million.

Additional information:

Marju Zirel
Head of Investor Relations
AS Tallinna Sadam