CEO of Coop Pank, Margus Rink, to step down at the end of May

After leading Coop Pank for eight years, CEO Margus Rink will step down at the end of May. Rink has served as Chairman of the Management Board since 2017.

The Supervisory Board of Coop Pank will initiate the search for a new CEO, who will then be responsible for defining the bank's strategic direction for the next period. Until the new CEO is appointed, the current Management Board member and Chief Risk Officer, Heikko Mäe, will assume the responsibilities of the Chairman of the Management Board. Other members of the board-CFO Paavo Truu, Head of Corporate Banking Arko Kurtmann, and Head of Retail Banking Karel Parve-will continue in their current roles.

Chairman of the Supervisory Board, Rainer Rohtla, expressed gratitude to Margus Rink for his significant role in building Coop Pank and leading its rapid growth. "Margus has contributed to Coop Pank with great intensity and dedication since its founding in 2017. Under his leadership, the bank has become a key player in the Estonian banking market, increasing its market share from 1% to 6%, getting listed on the Tallinn Stock Exchange, and becoming the most recommended bank among customers in Estonia. As we approach the end of our first strategic period in 2026, it is the right time for a new leader to define and implement the next phase of the bank's strategy,” Rohtla noted.

Margus Rink commented that building Coop Pank has been both a demanding and rewarding journey: "I am grateful to Coop Pank for the opportunity. These eight years have undoubtedly been the most intense and fulfilling period of my professional life. I have always been aware that my tenure as CEO was aligned with the bank's first strategic phase, which we defined as a ten-year horizon. I fully support the Supervisory Board's decision to begin the search for a new CEO, who will shape and execute the strategy for the next chapter.”

Margus Rink's term as Chairman of the Management Board will officially end on May 30, 2025. His roles as a Supervisory Board member of Coop Pank's subsidiaries Coop Liising AS and Coop Kindlustusmaakler AS will also conclude at the same time. Until the appointment of a new CEO, the role will be temporarily assumed by Heikko Mäe.

Coop Pank, a bank with Estonian capital, is one of the five universal banks operating in Estonia. The bank serves 211,000 everyday banking clients. Coop Pank leverages the synergy between retail and banking to bring financial services closer to where people live. The bank's strategic owner is Coop Eesti, a domestic retail chain with a network of 320 stores across the country.

Additional information:

Katre Tatrik

Head of Communications

Tel: +372 5151 859

Email: [email protected]