Changes in the Management Board of Coop Pank AS and Supervisory Boards of Bank’s subsidiaries
On 22 July 2020, the Supervisory Board of Coop Pank AS decided to extend the term of office of Margus Rink, Chairman of the Management Board, for a new 3-year term, i.e. from the end of the current term until 31 October 2023.
The term of office of Hans Pajoma as a member of the Management Board and Head of Corporate Banking expires on 31 October 2020. In relation to the end of Management Board member’s term of office, Hans Pajoma shall also be recalled from the Supervisory Boards of Coop Pank subsidiaries Coop Finants AS, Martinoza AS, Coop Liising AS and Coop Kindlustusmaakler AS. Similarly, the term of office as Supervisory Boards’ member expires on 31 October 2020.
In addition, the Supervisory Board of Coop Pank AS decided to supplement the Management Board of the Bank by a new member, whose area of responsibility will be retail banking. The new Management Board shall have five members and, in addition to Chairman of the Management Board, it includes Chief Financial Officer, Risk Manager, Head of Corporate Banking and Head of Retail Banking. Bank’s Supervisory Board decided to carry out a targeted search for two members of the Management Board. The new Management Board members shall be appointed at the October meeting of the Supervisory Board at the latest.
Margus Rink has been the Chairman of the Management Board of Coop Pank AS since 2017. He is also a member of the Supervisory Board of bank’s subsidiaries Coop Liising AS, Martinoza AS and Coop Kindlustusmaakler AS and Chairman of the Supervisory Board of Coop Finants AS. In addition, Margus Rink is a member of the Management Board of Estonian Banking Association and the Chairman of the Supervisory Board of the Good Deed Foundation. Margus Rink obtained a master's degree in business administration from the Faculty of Economics of the University of Tartu in 2000 and a bachelor's degree in financial accounting and analysis from the same university in 1994.
Margus Rink currently owns 12,487 shares in Coop Pank.
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 74,500 everyday banking customers. Coop Pank uses the synergies between retail and banking and brings everyday banking services close to people's homes. The majority shareholder of the bank is the domestic retail chain Coop Eesti, whose sales network includes 330 stores.
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