18/09/2023
In an exciting development for Standard AS, the acquisition process has finally been successfully concluded, ushering in a fresh chapter for the company. With this, a new Supervisory Board has been appointed, comprising three distinguished individuals: Priit Tamm, Avo Kivimaa, and Aavo Kokk.
Leading this dynamic team is Priit Tamm, who will serve as the Chairman of the Supervisory Board. Mr. Tamm boasts an impressive legacy, having been both a shareholder and the former CEO of Standard AS. With over two decades of experience in the furniture sector, his leadership is poised to steer the company toward continued success.
Reflecting on this milestone, Priit Tamm, Chairman of the Board of Standard AS, remarked, “I am delighted that a new milestone in Standard’s history has begun. We have been hard at work all summer, and every week our Kose factory is producing furnishings for both Estonian and export customers. The new Supervisory Board brings together many years of experience in different fields, which will undoubtedly be of great value in taking the company forward.”
Joining the board is Aavo Kokk, a distinguished senior executive with an extensive background in the real estate industry. With more than 15 years of experience managing companies such as Catella and, most recently, US Real Estate, he brings a wealth of knowledge to the table. Mr. Kokk has also held positions such as editor-in-chief of Eesti Ekspress, publisher, and responsible publisher of Eesti Päevaleht. Additionally, he has played a pivotal role in the top management of Eesti Hoiupank and was instrumental in developing the Estonian tax system in the early 1990s.
Completing this accomplished trio is Avo Kivimaa, the founder and former CEO of Tradehouse, Estonia’s largest beauty retailer. Mr. Kivimaa adds valuable experience in building successful retail and wholesale businesses to the board’s repertoire.
This transformative acquisition, which concluded in September, saw Green Estonia OÜ acquire a majority stake of 90 percent in Standard. Meanwhile, Mööblivara OÜ, under the guidance of Priit Tamm, will retain a 10 percent stake. Enn Veskimägi and Mati Peekma have relinquished their ownership roles within the company.
Notably, Jonatan Karjus will continue in his role as CEO.
Founded in 1944, Standard AS is one of Estonia’s oldest and most esteemed brands in the furniture industry. Over the years, it has evolved into an international master brand, setting the standard for modern business environments.
The new leadership and acquisition signal an exciting future for Standard AS, with an exceptional team poised to lead the company into its next phase of growth and innovation.