Paavo Nõgene, the CEO of Tallink Grupp, has announced that he will step down from his position in May, marking the end of an eight-year tenure during which he navigated the company through significant challenges including a pandemic, war, and economic downturns in their operational regions. In a statement, Nõgene emphasized the need for fresh leadership to continue the development of the company, indicating a planned transition to a new leader who can guide Tallink into its next chapter. His last day as a member of the Tallink leadership team will be May 22.

The Chairman of the Board of Tallink Grupp, Enn Pant, praised Nõgene's leadership during tough years, acknowledging the exceptional difficulties faced by the company. The announcement comes after a reflection on a challenging year for the company, which reported a decline in demand affecting its performance. As part of the transition, the board has initiated the process for finding a new CEO, indicating a proactive approach to leadership succession amid ongoing challenges.

Nõgene’s departure reflects a pivotal moment for Tallink as it seeks to recover from the recent struggles and potentially redefine its strategic direction under new management. The announcement is particularly important for stakeholders and employees, who will be looking for stability and growth as the company seeks to overcome market challenges that have plagued the maritime sector.