Meelis Milder to step down from the active leadership of Baltika
Meelis Milder, Chairman of the Management Board of Baltika, will take an advisory role at the Supervisory Council of Baltika, and the executive management of the company will be divided between CEO and Management Board member Mae Hansen and Management Board member Maigi Pärnik-Pernik. “My new role is to provide counseling and assistance where Baltika’s long-term management experience can support the achievement of desired results,” said Milder.
“This year we informed the stock exchange and the public about our new activity and financing plan, which is one of the most radical steps in Baltika’s history. Strong and ambitious goals set for the coming years have given our employees, customers and partners the necessary signal that Baltika is changing. I am pleased to know that this plan has also been approved by the shareholders. I suggested already in spring that my role should change in the future, and it would be reasonable to make this change now when we have agreed on the future areas of responsibilities with the members of the Management Board,” explained Milder.
Supervisory Council of Baltika accepted Milder’s letter of resignation from the position of the Chairman of the Management Board and his wish to take on an advisory role in the company as an advisor to the Supervisory Council of Baltika. “I will trust the day-to-day management of Baltika into the hands of two capable top managers who will be able to execute our jointly planned turn towards profitable growth. They have my support in this,” he added.
Chairman of the Supervisory Council of Baltika Jaakko Salmelin thanked Milder for his substantial efforts and continued support. “Meelis Milder has played a very important part in getting Baltika’s transformation started. His extensive knowledge and long experience from the fashion industry is a great asset to have and I am very happy we can also rely on his advice and support going forward,“ said Salmelin.
Mae Hansen, CEO and member of the Management Board of Baltika, will be responsible for sales, marketing and retail business processes, and Maigi Pärnik-Pernik, member of the Management Board, will be responsible for product development and support functions.
Mrs Hansen, who joined the Management Board this spring, stated that the company’s strategic turnaround has had a strong start and the company is moving forward within planned schedule. “Projects related to the biggest changes will be implemented by the end of February next year. However, we cannot celebrate any significant achievements earlier than at the end of 2020, because in a large organization, radical changes need to be implemented in stages to mitigate risks and ensure the smoothest and most effective transition possible,” Hansen added.
Meelis Milder’s powers of the Chairman of the Management Board ends on June 27, 2019, after which he will continue in a company as an Advisor of the Supervisory Board.