Kraft walks away after 10 years

  • 2005-06-08
  • From wire reports
TALLINN - Vahur Kraft was scheduled to hand over his position as president of the Bank of Estonia to Andres Lipstok this week.

Kraft, 44, led the central bank for 10 years and was one of Eastern Europe's longest serving governors of a central bank. The bank's council asked President Arnold Ruutel to appoint Lipstok president on May 10 after the latter won a vote in the council. Ruutel signed Lipstok's appointment on May 18.

Kraft said he was not disappointed by his defeat in the council vote. He said his plans for the immediate future were to rest, learn and look for new challenges. He didn't rule out taking up a job in the commercial banking sector.