Eesti Energia to Continue with Four-Member Management Board from 2026

Following a decision by the Supervisory Board of Eesti Energia, the Group will continue with a four-member Management Board from the beginning of next year. The business operations will be consolidated into three subsidiaries: Enefit, which will oversee electricity operations; Enefit Industry, responsible for industrial operations; and Elektrilevi, managing the distribution network.

Starting from January 1, 2026, the Management Board will consist of Chairman Andrus Durejko, Chief Financial Officer Marlen Tamm, and Lauri Karp, CEO of Enefit Industry. The fourth member joining the Board will be Juhan Aguraiuja, who will lead the newly established electricity business subsidiary Enefit.

The restructuring aims to sharpen the Group’s business focus, improve profitability and asset productivity, and restore investment capacity.

“The new Management Board’s key objective is to drive profitability across the Group. With over €2 billion invested in recent years, the Supervisory Board expects the leadership to strengthen competitiveness, optimize asset performance, and re-establish investment capability. In response to the fast-changing electricity sector, we are simplifying business line governance. I firmly believe these steps will support the achievement of our long-term goals,” said Anne Mere, Chair of the Supervisory Board of Eesti Energia.

According to Andrus Durejko, Chairman of the Management Board, simplifying the governance model and establishing strong subsidiaries will enable the Group to respond more flexibly to market changes and deliver solutions that align customer needs with the country’s long-term strategic objectives.

“Our mission is to make Eesti Energia more profitable, more attractive to investors, and capable of making new investments,” Durejko explained. “Restoring investment capacity is essential for continued development of dispatchable and renewable generation, as well as storage solutions that support price stability and security of supply. I thank the Supervisory Board for their trust in both the planned changes and our long-term vision.”

Juhan Aguraiuja will lead Enefit, the subsidiary consolidating the Group’s electricity business. Since October 2024, he has served as Chairman of the Management Board of Enefit Green. Previously, Aguraiuja was a member of the Management Board of Adven Eesti AS and Head of Adven’s Baltic operations since 2022. Prior to that, he held various positions at Danpower Eesti AS.

The current Management Board members’ contracts remain valid until the end of 2025.