– UKRAINE, Kyiv – Arricano Real Estate PLC (LON: ARO) today announced the appointment of Urmas Somelar as Non-executive Chairman of the Company with effect from 27 September 2018. Philip Scales, Interim Non-executive Chairman has stepped down from the Board with effect from 27 September 2018.
Commenting on the changes, Mykhailo Merkulov, CEO, said: “Urmas’s significant banking experience will benefit the Group and Urmas will be an excellent asset in terms of streamlining the Group’s strategy, in growing the business in Ukraine and internationally. The Board would like to thank Philip for his time and contribution since the Company’s admission to AIM in September 2013. We are grateful for all that he has done, his support in the Company’s different strategic and operational issues, the excellent service as the Interim Chairman during the last year and wish him well with his future endeavours.”
About Urmas Somelar
Urmas Somelar currently acts as a management consultant, working through his private company US Juhtimise. Previously Urmas worked for over 20 years in banking, predominantly in the credit and credit risk areas. He has extensive knowledge of credit analysis, corporate restructuring, and repossessed asset turnaround. Between 2009 and 2015 Urmas built up and led different units within the Swedbank Group, working in the Baltics as well as Russia and Ukraine. Between 2015 and 2017, Urmas acted as the CEO at Riigi Kinnisvara, an Estonian state real estate property, and facility management company, which owns and manages more than 1.2 million square meters of office and specialized property. Most recently, between late 2017 and early 2018, Urmas held the position of Chief Risk Officer at Versobank AS in Estonia.
For more information: https://www.arricano.com/en
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