AS Viisnurk announces that the Member of the Management Board Toivo Kuldmäe submitted his resignation at the Supervisory Board meeting on the 26th of February in 2007. The Supervisory Board decided to accept the resignation and recalled the Member of the Management Board Toivo Kuldmäe from his position as of February 26, 2007. The reasons of Toivo Kuldmäe resigning are related to his private life.

AS Viisnurk Supervisory Board elected Einar Pähkel, Andres Kivistik and Erik Piile as the new Members of the Management Board of AS Viisnurk. The Chairman of the Management Board shall be appointed at the next Supervisory Board meeting. The authorities of the Members of the Management Board start at February 26, 2007 and last 3 years in accordance with the Articles of Association.

Einar Pähkel has been since June 2006 the CFO of AS Viisnurk, previously 2000 – 2006 he held the position as the financial manger of AS Viisnurk.
Andres Kivistik has been since September 2006 Manager Director of OÜ Skano, which is daughter company of AS Viisnurk and his area of responsibility is management of the company's retail business. Previously, 2005 – 2006 Andres Kivistik held the position as Operational Director of Säästumarket, the discount stores chain of AS Rimi Eesti Food and 2002 – 2005 he held the position as Managing Director and member of management board of AS Hydro Texaco.
Erik Piile has been since 1997 Managing Director of the Building Materials Division of AS Viisnurk.


Einar Pähkel
CFO
Phone: +372 447 8331
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.