The Supervisory Board of AS Tallink Grupp has appointed Peep Jalakas as Chairman of the Management Board. His three-year term will begin on 6 April 2026.

As of 27 February, Margus Schults steps down from the Group’s Management Board and will continue as CEO of Tallink Silja Oy in Finland.

Strategic Continuity

Supervisory Board Chairman Enn Pant said the appointment underlines Tallink’s ambition to:

• Continue strategic growth
• Strengthen competitiveness
• Create long-term shareholder value

Given Jalakas’ financial-sector background, Schults will return full-time to Finland, leading Tallink’s Finnish operations.

Incoming CEO Background

Peep Jalakas (born 18 May 1985) has been a Management Board member of AS SEB Pank and Head of Corporate Banking since 2023.

Over a 20-year career at the bank, he has held several leadership roles, including responsibility for corporate client and credit teams.

Jalakas described the move as both an honour and a responsibility, noting his prior cooperation with Tallink during his banking career.

Management Board Composition

Current CEO Paavo Nõgene, who announced his resignation last week, will remain on the Management Board until 22 May 2026 to support the transition.

Following Jalakas’ appointment, the Management Board will comprise:

• Peep Jalakas
• Piret Mürk-Dubout
• Elise Nassar
• Harri Hanschmidt

The leadership change signals continuity combined with a stronger financial governance focus as Tallink navigates a competitive regional ferry market.