Arco Vara AS Announces Departure of Miko Niinemäe, CEO
May 02, 2024 at 02:00 am EDT
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Miko Niinemäe, Chairman of the Board at Arco Vara is to leave the company, and the Supervisory Board has begun searching for a new board member, who will take over the leadership by the end of the year at the latest. Miko Niinemäe, who joined Arco Vara in 2017 and was elected as the company's CEO in 2020, said he can leave with peace of mind. Arco Vara confirms that the departure of the CEO will not affect Arco Vara's strategy, and the plan to pay dividends and grow the company under experienced leadership remains valid.
Arco Vara AS is an Estonia-based company active within the property industry. The Company focuses on the building construction, civil engineering, special engineering and real estate services. Its business consists of three segments: Development segment, which is engaged in the development of residential and commercial environments, as well as long-term investment in real estate; Service segment, which is involved in the real estate brokerage, valuation and management, and short-term investment in real estate, and Construction segment, which provides general and sub-contracting in the field of general construction, civil and environmental engineering, and construction supervision services. Arco Vara AS has numerous subsidiaries, including Arco Lozen EOOD, Acro Invest EOOD, and Acro Real Estate SIA. The Company operates in Estonia, Latvia and Bulgaria.