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14.11.2018

Lehar Kütt to continue as the CEO of KredEx

According to the Supervisory Board resolution, Lehar Kütt will continue as the chief executive officer of KredEx. Kütt, who has managed KredEx since 2015, shall accordingly remain in office for the next four years.

According to Merike Saks, Chairman of the Supervisory Board at KredEx and Secretary General of the Ministry of Economic Affairs and Communications, the essential criteria for the resolution of the Supervisory Board were the previous achievements of Lehar Kütt as the CEO, as well as his broad-based vision of the role of KredEx in society. “Development of technologies and the ever-increasing need for the digitalisation of processes has a clear impact on the entire financial sector. As a market participant, KredEx must also keep pace with these changes to ensure sustainability. His vision of arranging the activity of the organisation in a smarter and more efficient way and being a strong partner to the financial sector as well as the Estonian people in the field of energy efficiency, also coincided with the view of the Supervisory Board.”

Lehar Kütt believes that the main tasks of KredEx continue to be increasing the international competitive advantage of Estonian enterprises and improving the living conditions of people. “In contributing to the development of Estonia I see KredEx as a self-financing financial institution, which considering the public interest, promotes the growth of international competitive advantage and improvement of the living conditions of people, contributing thereby to the sustainable growth of the wellbeing of society. To perform this role, KredEx must alleviate market failures primarily in terms of availability of funding and offer financial services, which private-initiative organisations do not provide. At that, the role of KredEx must be filling the gaps of the private market and not competing with it.”

Lehar Kütt joined KredEx in 2008, when he took up the position of the head of the Enterprise Division. Starting from 2015, he is the CEO of KredEx. In addition, Kütt is the Chairman of the Supervisory Board at AS KredEx Krediidikindlustus, Member of the Supervisory Board of AS SmartCap and Member of the Management Board of the European Association of Guarantee Institutions. He holds a Master’s degree in economics in the field of social sciences.

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