Changes in the Supervisory Board of Inbank AS
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At the Annual General Meeting to be held on 30 March 2021, the Supervisory Board of Inbank AS will propose to the shareholders to elect Jan Andresoo and Taavi Kotka to the Supervisory Board for 3 years as of 31 March.
The Supervisory Board will also propose to extend the mandate of the Supervisory Board members Rain Rannu, Raino Paron, Roberto de Silvestri and Triinu Reinold retroactively as of the termination of their authorisation on 23 March 2021 and proactively for the next 3-year term of office as of the approval of this resolution.
The purpose of these changes is to support Inbank's new management structure and international growth. To this end, the Supervisory Board of Inbank plans to elect Priit Põldoja as the Chairman of the Management Board and the new CEO as of 31 March 2021. In connection with becoming the Chairman of the Supervisory Board, Jan Andresoo will be recalled from the position of the Chairman of the Management Board of Inbank AS.
According to Priit Põldoja, Chairman of the Supervisory Board, Inbank wants to support its international growth and innovation by changing the composition of the Supervisory Board and the Management Board, and to ensure that the new cross-border organisational structure works effectively.
"Ever since the establishment of Inbank, Jan and I have applied our knowledge and experience in those areas where our key strengths lie. Looking at the challenges facing Inbank, we realised that the best solution at the moment is for me to focus on organisational development and scaling, and for Jan to focus on product innovation and international growth. As founders, we will continue to cooperate in shaping the bank's strategy, our roles will simply change," said Põldoja.
According to Põldoja, having tech visionary, entrepreneur and start-up investor Taavi Kotka onboard strengthens the technological competence of Inbank's Supervisory Board. "Taavi has an excellent resume in managing technology companies and scaling cross-border business models, which we can successfully implement at Inbank," said Põldoja.
As a representative of the start-up community, Taavi Kotka sees Inbank as having considerable potential in designing new types of internationally viable fintech products and services. "Inbank has a start-up mindset and management style, which makes it ready to respond quickly to changing market needs. The symbiosis between this and the fintech field, which is currently in a very interesting development phase, is an exciting challenge for me,” said Kotka.
Since 2018, Taavi Kotka has been Head of the Jio Research Center in Estonia, part of the largest telecommunications company in India. Between 2000 and 2012, he was part of the scale-up of Webmedia (now Nortal), one of the region’s largest software development companies. For his work there, Taavi Kotka was named EY Estonia’s Entrepreneur of the Year together with Priit Alamäe in 2011. Between 2013 and 2017, he worked as the Chief Information Officer of the Estonian Ministry of Economic Affairs and Communications, participating in the development of the e-residency concept. Taavi Kotka is an active angel investor and contributes to technology education and research. He is the founder of NPO Unicorn Squad, which promotes technology and robotics education for girls. His extensive start-up portfolio includes 27 companies, including Bolt, Starship Technologies, Transferwise, Veriff and Salv. In 2016, Taavi Kotka was awarded the Order of the White Star of the Republic of Estonia 3rd class.
Taavi Kotka owns 6,500 Inbank shares through a related company.
Inbank is a consumer finance focused digital bank active in the Baltics and Poland with additional deposits accepted in Germany, Austria and the Netherlands. Inbank has over 3,800 active partners and 690,000 active contracts. Inbank bonds are listed on the Nasdaq Baltic Stock Exchange.
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