Effective January 02, 2017, Torfinn Losvik is appointed to the position of Chairman of the Management Board of Skano Group. Lauri Treimann will continue as a management board member of Skano Group AS (including the group's commercial subsidiaries). Torfinn has extensive management experience from manufacturing related companies, such as CEO positions at Marat AS (2003-2014) and Finnwear OY (1998-2002) and Chairman of the Board at Patricia Group OY (since 2002), and has nearly ten years of corporate finance experience from Smith Barney (now part of Citigroup), Bankers Trust (now part of Deutsche Bank) and Lazards. Torfinn is also the Chairman of Norwegian-Estonian Chamber of Commerce since 2013. Following the application of resignation by Gert Kuus, Management Board member of Skano Group, Supervisory Board approved the resignation, with effect from December 26, 2016.