Märt Meerits was appointed Chief Financial Officer of Arco Vara AS on 12 November 2026. The current Chief Financial Officer, Darja Boshakova, will leave the company in December 2026. Until her departure, Bolshakova will ensure a smooth handover of financial management responsibilities.
Under the leadership of Kert Keskpaik, who took office as CEO of Arco Vara AS on 8 October 2026, the company is focusing on improving capital efficiency and placing the profitability of development projects at the core of its operations.
Kert Keskpaik, CEO of Arco Vara AS, commented: “The next phase of Arco Vara’s development will focus on the profitability of development projects and the efficient use of capital, with the CFO playing a central role in achieving these objectives. Märt has extensive experience in financial management, raising capital and managing a listed company. Through his involvement in the Volta Quarter development, he has gained first-hand experience in financing the redevelopment of a former industrial site. This experience will be particularly valuable in financing the next stages of the Luther Quarter development.”
“I would like to thank Darja for her excellent cooperation. Under her leadership, financial processes have been automated and a EUR 15 million bond issue was successfully completed. I highly value her professionalism and contribution to Arco Vara’s development and wish her every success in her future endeavours,” Keskpaik added.
Märt Meerits has nearly 30 years of experience in financial management, investment and corporate leadership. Most recently, he served as Chief Financial Officer of the international corporate group Cryotech Nordic. In 2025, he held a fixed-term position as Chief Financial Officer of Endover. During this period, Endover launched the largest bond programme in its history to finance the Volta SKAI development. From 2019 to 2025, Meerits served as Chief Financial Officer of Exmet Group. From 2018 to 2019, he worked as a Project Manager at Endover, and from 2015 to 2018, he was involved in raising capital for real estate projects at Crowdestate. From 2010 to 2015, Meerits was a Member of the Management Board of AS Silvano Fashion Group, a company listed on the Nasdaq Tallinn and Warsaw stock exchanges. Previously, he served as Chief Executive Officer (CEO) and Head of Investments at Trilliance Capital AG, Head of Investment Management at LFS Asset Management, Member of the Management Board of SEB Varahaldus AS, and Head of Private Banking at SEB. Meerits graduated from Estonian Business School with a degree in International Business Administration and holds an Executive MBA from the Stockholm School of Economics in Riga.
Märt Meerits does not own any shares in Arco Vara AS.
The change of Chief Financial Officer will not result in any changes to the composition of the Management Board or Supervisory Board of Arco Vara AS. Märt Meerits will become a Member of the Management Board of all Estonian subsidiaries of Arco Vara AS.
Kert Keskpaik
CEO
Arco Vara AS
kert.keskpaik@arcovara.com
