Gert Tiivas to leave East Capital Explorer

15.08.2011, 11:36

Gert Tiivas, CEO of East Capital Explorer since its launch in 2007, has informed the Board that he has received another job offer within the East Capital Group and intends to resign as CEO of East Capital Explorer.

In his new position Gert Tiivas will be responsible for developing East Capital's Private Equity investment business in the Baltic countries.

Gert Tiivas, CEO East Capital Explorer, said: "I would like to thank the Board, and the shareholders, for the opportunity to work at East Capital Explorer during these exciting years. The Baltic States are now firmly back on a recovery path, with many interesting companies seeking capital for the new growth cycle, and I am looking forward to developing this business area for East Capital."

Paul Bergqvist, Chairman of the East Capital Explorer Board, said: "I would like to thank Gert for his service to East Capital Explorer and continued support as the Board carries out its search for a new CEO. I wish Gert all the best in his new position."

The Board has initiated its search for a successor. Gert Tiivas will continue his work with the company while the Board seeks to appoint a new CEO.