OREANDA-NEWS. On the 19th of March, the Supervisory Council of AS Tallinna Vesi will meet to approve the resignation of the current Chief Executive Officer Ian Plenderleith and the appointment of Karl Heino Brookes as his replacement. Upon the approval of the Supervisory Council. Karl Brookes shall take over the CEO's role from Ian Plenderleith as of 1st of June 2014.

“There is never a perfect time for this type of transitions, but in life and career among that, it is only natural to move on from time to time to face new challenges. As the tariff dispute is still ongoing and we haven't seen any change for the past 12 months, this “quiet period” is the most appropriate time for me to resign,” explained Ian Plenderleith. ”I am very positive Karl Brookes will keep the company moving further with fresh insights, along with a fantastic team we have in the company,” he added.

“I have had a very interesting and of course, challenging time with the company, which I'm extremely grateful for. I have had an honour to learn and grow personally but most important, work with an excellent team of people. We have achieved outstanding operational results ensuring a very high quality service to our customers and demonstrated high moral of corporate governance by growing an ethical business,” Ian Plenderleith said. Mr Plenderleith would like to thank all co-operation partners and shareholders for their support throughout the past five and half years. “I would especially like to thank all the employees of the company, the ones I have worked with as well as my current colleagues without whom we would not be where we are today, the leading water and wastewater company in the Baltic region,” he added.

Karl Brookes has nearly 30 years of experience in utilities sector both, in UK and internationally, holding several positions in demanding operating environments. His wide range of experience gives him great understanding of the challenges of the industry. Mr Brookes said that as the new CEO of the Company he intends to continue the current course towards continuous improvement thorough all aspects of the business, with the emphasis on the consistency and transparency of communicating with the stakeholders of the Company. “AS Tallinna Vesi can be proud for the quality of service the company is providing to nearly 1/3 of the population of Estonia. I'm very excited to be part of the further development of the company and I look forward working with the people of the company,” he said.

“Mr Plenderleith has been working for the Company for nearly 9 years. As the Financial Director from 2004 to 2007, he played significant role implementing the necessary changes that enabled AS Tallinna Vesi's listing on the Tallinn Stock Exchange in June 2005. As of October 2008 until today, Ian has been the CEO of the Company, taking AS Tallinna Vesi through tough economic environment and the most important, protecting the interests of the Company and its shareholders in the changed regulatory conditions, “ said the chairman of the Supervisory Council, Robert Gallienne. “I would like to thank Ian for the time and energy he has contributed into developing the company,” he added.