The council has five members - three represent the controlling shareholder Nordic Contractors AS and two are independent. All members of the council have been elected by the general meeting for a term of five years.
Toomas Luman (chairman of the council) – representative of Nordic Contractors AS and a majority shareholder
An engineer with a diploma in industrial and civil engineering from Tallinn Polytechnic Institute (today: Tallinn University of Technology), Toomas Luman is one of the founders of the Nordecon group and has been involved in the activities of the Group through its board and council for 30 years. Besides construction companies, he has held senior positions at various other enterprises (Tallinna Kaubamaja AS, E-Betoonelement AS, Väokivi OÜ, Eesti Energia AS, etc). He is an active member of the community and has contributed to the development of the business environment, education and national defence. For over 23 years he has led the Estonian Chamber of Commerce and Industry and has participated in the work of the professional association of Estonian construction enterprises. As chairman of the Chamber of Commerce, he was actively involved in preparatory activities for Estonia’s accession to the EU and the euro-zone. Before Estonia joined the EU, Toomas Luman acted for four years as chairman of the consultative committee of the head of the Estonian state delegation in EU accession negotiations (the minister of foreign affairs). He has been awarded the Order of the White Star of the Republic of Estonia (Fifth Class, Third Class and First Class) and he has received various awards from the Estonian defence forces, the Estonian National Defence League and other state and non-profit organisations. He has also received state awards from several foreign countries.
Membership in the governing bodies of other organisations: Luman ja Pojad OÜ and its subsidiaries and associates (including Nordic Contractors AS, chairman of the board), Estonian Chamber of Commerce and Industry (chairman of the board), Nõmme Private Education Foundation, Foundation for Promoting National Defence, Estonian Reserve Officers’ Association
Interests (exceeding 5%) in other companies: Luman ja Pojad OÜ and its subsidiaries and associates (including Nordic Contractors AS, Arealis AS, Arealis Holding AS and Nordecon AS), TL Holdinginvesteeringud OÜ
Andri Hõbemägi – representative of Nordic Contractors AS
Andri Hõbemägi is an economics graduate of Tallinn University of Technology. From 1993 to 2001 he worked for Hansapank AS (later renamed Swedbank AS). From 2001 to 2002 he was executive manager of football club FC Flora. In 2002 he became CFO of Eesti Ehitus AS (later renamed Nordecon AS). During his term of office the company’s shares were listed on the Tallinn Stock Exchange. Currently he is chief analyst with Nordic Contractors AS, the majority shareholder in Nordecon AS. His community activities are aimed at the development of Estonian football and regional education.
Membership in the governing bodies of other organisations: Subsidiaries and associates of Nordic Contractors AS (council), Lilleküla Jalgpallistaadion AS (council), Toidutark OÜ (board), Estonian Football Association, Pelgulinna Education Society, Nõmme Private Education Foundation
Interests (exceeding 5%) in other companies: none
Vello Kahro - representative of Nordic Contractors AS
Vello Kahro has a higher education in Economics from the University of Tartu, Faculty of Economics. Vello Kahro has worked in Nordecon AS and its parent company Nordic Contractors AS since 1989. Today, Vello Kahro fulfils the duties of a chief accountant-inspector in Nordic Contractors AS. Vello Kahro was a member of the audit committee in Nordecon AS from 2012 to 2015.
Membership in administrative or control bodies of other organizations: Nordic Contractors AS subsidiaries and affiliates (council), Kaarlaid OÜ (board), Kaarlaid Eriveod OÜ (board), Niveraalis OÜ (board), Niverto OÜ (board).
Interests (exceeding 5%) in other companies: Kaarlaid Eriveod OÜ, Niveraalis OÜ, Niverto OÜ.
Meelis Milder – independent member (as per the corporate governance recommendations of the stock exchange)
An economics graduate of the University of Tartu, Meelis Milder has been involved in the activities of Baltika, one of the flagship companies of the Estonian clothing industry since 1984. Currently he is chairman of the board and a major shareholder in Baltika AS, which is listed on the NASDAQ OMX Tallinn Stock Exchange, and a member of the council of Tallinna Kaubamaja AS, also listed on the NASDAQ OMX Tallinn Stock Exchange. He has been awarded the Order of the White Star of the Republic of Estonia (Fourth Class).
Membership in the governing bodies of other organisations: Tallinna Kaubamaja AS (council), Baltika AS and its subsidiaries and associates (board/council), BMIG OÜ (board), BML Invest OÜ (board), Kodreste OÜ (board), LVM Projekt OÜ (board), Maisan OÜ (board), Estonian Chamber of Commerce and Industry, Board of Governors of the Estonian Academy of Arts
Interests (exceeding 5%) in other companies: BMIG OÜ, BML Invest OÜ, OÜ Kodreste, OÜ LVM Projekt, OÜ Maisan
Sandor Liive – independent member (as per the corporate governance recommendations of the stock exchange)
Sandor Liive is an economics graduate from Tallinn University of Technology, Department of Economics. In 1992-1995, he was a member of the board in the real estate bureau Uus Maa OÜ. In 1995-1998 he was the head and CFO of the financial department of Tallinna Sadam AS and during 1996-1998 also a board member. Since 1998 Sandor Liive worked in Eesti Energia AS, starting as CFO and member of the board, and from 1st of December 2005 until 30th of November in 2014 as the Chairman of the Board. Sandor Liive is also a member of the Audit Committee in Nordecon AS. Sandor Liive has been awarded knighthood of the French Legion of Honour.
Membership in administrative or control bodies of other organizations: Inventor (board) OÜ, MTÜ Eesti Olümpiakomitee (executive board)
Interests (exceeding 5%) in other companies: Inventor OÜ
Information of the shares owned by members of the council are disclosed on page "Shareholders".
Audit commitee is formed by the council. The committee's objective is to give advice to the council regarding the accounting, auditing, risk management, internal audit, supervision and budgeting processes in the group (incl. parent company) and lawfulness of its activities. The committee reports to the council.
In meeting those objectives the audit committee cooperates with the council, management board, group auditor and other internal parties if needed.
The current members of the committee are:
Sandor Liive (chairman) - member of the council with long-term experience in management.
Andri Hõbemägi - member of the council with long-term experience in financial management.