Company briefs - 2010-04-08

  • 2010-04-08

Latvia’s national airline airBaltic President and Executive Director Bertolt Flick has been appointed an airBaltic board member, according to the Registry of Enterprises’ Lursoft database, reports Nozare.lv. At the end of December last year, airBaltic board members all stepped down because, as company Vice-president Janis Vanags explained, the board chairman and three board members had been simultaneously carrying out duties of the CEO, CFO, COO and CCO. After the reorganization, the four terminated their work in their elected posts of the board, and Flick continued as airBaltic president and CEO, Martins Antonovics as chief financial officer, Laila Odina as chief operations officer, and Tero Taskila as chief commercial officer.

Parex bank closed 2009 with 111 million lats (158.5 million euros) in losses, according to the bank’s audited report, reports Nozare.lv. Non-audited results had the losses at a smaller figure - 107.5 million lats. Losses for the Parex bank group last year were at 127 million lats. The government nationalized the second-largest bank last year to avoid a wider financial sector meltdown, but the move forced the country to seek a 7.5 billion euro rescue package arranged by the International Monetary Fund and European Union.

The Estonian government approved on April 1 a bill that specifies the use of a person’s electronic contact data for advertising: in the future, direct marketing can be done only if a person has agreed to it, reports Eesti Paevaleht Online. The current information society service law doesn’t guarantee private individuals the constitutional right for privacy in regard to unwanted advertising. The new bill prescribes that direct marketing messages , including e-mails, faxes, SMS and MMS can be sent to a private individual only if the individual has first agreed to it. Also, all messages must include a reference on how a person could refuse the later messages. The bill doesn’t regulate direct marketing via ordinary mail and telemarketing.