Rait Riim appointed as the new CEO of Arco Vara AS

Core Viewpoint - Arco Vara has appointed Rait Riim as the new CEO, effective April 1, 2026, for a term of three years, aiming to enhance the company's growth and profitability [1][4]. Group 1: Leadership Changes - Rait Riim has been appointed as the new CEO of Arco Vara AS, with his authority starting on April 1, 2026, and lasting for three years [1]. - Kristina Mustonen will be recalled from the Management Board of Arco Vara AS as of April 22, 2026 [5]. Group 2: Rait Riim's Background - Rait Riim brings 20 years of experience in the real estate sector, previously serving as Head of Real Estate Investments at LHV Varahaldus AS and holding roles at Kapitel AS and Ektornet Management Estonia OÜ [2]. - He was a member of the Supervisory Board of Arco Vara AS from 2020 to 2021, representing LHV Pension Funds [2]. Group 3: Strategic Priorities - Rait Riim's main priorities include the successful execution of the Luther Quarter and Arcojärve developments, balancing the development portfolio, and maintaining strong financial discipline [3]. - The Supervisory Board expects the new CEO to ensure Arco Vara's growth and stable profitability, leveraging the current development portfolio as a foundation for this growth [4]. Group 4: Vision and Goals - Rait Riim aims for Arco Vara to be recognized as a benchmark for urban space and living environment quality, sustainability, and long-term value [4]. - The company emphasizes the importance of creating comprehensive environments that enhance homeowner pride and property value over time [4].