Published: 2020-03-12 15:15:00 CET
Changes board/management/auditors

Changes in AS Baltika Management Board

Mae Leyrer`s, Member of the Management Board of AS Baltika 14-months contract expires on 22 May 2020. The contract of Maigi Pärnik-Pernik, Member of the Management Board, expires in March 2020 and will be extended by 22 May 2020 according to the decision made on 11 March by Supervisory Board. Until the end of the contracts, both Leyrer and Pärnik-Pernik, as members of the management board, will continue to actively implement company's restructuring plan, while gradually transferring management to the new Management Board. Mae Leyrer is responsible for sales, marketing and retail operations, and Maigi Pärnik-Pernik for product development and support functions.

According to the decision of the Supervisory Board held in 11 March, Flavio Perini will be the new CEO and Chairman of Management Board of AS Baltika since 1 April 2020. Perin has more than 22 years of experience in the international fashion business where he has worked with famous brands like Levi`s, Prenatal, Max Mara and OKAID. He has led companies` restructuring, change management and international expansion projects in Eastern Europe, Middle East, Asia and South America. Perini holds a law degree (Università degli Studi di Parma).

For the past three years, Flavio Perini has served as General Manager at Original Marines, an Italian leading children's clothing company, and as Global Franchise and Wholesale Director at SMYK GROUP, a Polish retail company part of the private equity portfolio of Bridgepoint Capital LTD.

Flavio Perini is not a member of the Management Board or Supervisory Board of any other company and does not own any shares of AS Baltika.

Under the leadership of Flavio Perin and in cooperation with today's Management Board, a new Management Board of AS Baltika will be formed in the coming months.

Maigi Pärnik-Pernik
Member of the Management Board