The candidates for Governor of the central bank are Kitt, Müller and Ross
The Supervisory Board of Eesti Pank has nominated Robert Kitt, Madis Müller and Märten Ross (in alphabetical order) as candidates for the position of Governor of Eesti Pank
The Supervisory Board will discuss the candidates at its regular meeting on 12 February. The successful candidate will need to get the votes of at least five of the eight board members.
Robert Kitt is the Chairman of the Board of Swedbank Estonia, Madis Müller is Deputy Governor of Eesti Pank, and Märten Ross is Deputy Secretary-General at the Ministry of Finance.
“The candidates for Governor of Eesti Pank are outstanding people. As Chair of the Supervisory Board I must make sure that the election of the candidate for Governor is transparent to the public and runs smoothly”, said Mart Laar.
The term of office of the present Governor Ardo Hansson ends on 6 June this year. The law allows the Governor of Eesti Pank to be appointed to office for a term of seven years and only for one term.
By law the candidates for Governor of Eesti Pank must be proposed for the position by the Supervisory Board and must give their consent in writing to the proposal.
The procedure for appointing the Governor of Eesti Pank is as follows.
1) the Supervisory Board decides whom they are going to propose as candidates;
2) the candidate must pass the security checks of the Estonian Internal Security Service, which generally takes three months;
3) after the security checks have been completed, the data are presented to the Supervisory Board, which may then propose to the President of the Republic that the candidate be appointed Governor of Eesti Pank. The candidate must have the votes of at least five board members;
4) The President of the Republic appoints the Governor of Eesti Pank to office.
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