- Admirals Group AS appoints Eduard Kelvet and Lauri Reinberg to its Management Board, effective July 1, 2024.
- The appointments follow a period of financial restructuring after a significant revenue decline and financial losses in 2023.
Admirals Group AS has appointed Eduard Kelvet and Lauri Reinberg to its Management Board, effective July 1st. This move comes as the company navigates a significant restructuring phase, following a challenging 2023 marked by a sharp revenue decline and financial losses.
The addition of Kelvet and Reinberg is part of Admirals’ effort to improve corporate governance and address market challenges. The company has also halted client onboarding in the EU as part of its strategy to stabilize operations and boost investor confidence.
Admirals’ founder and CEO, Alexander Tsikhilov, emphasized his commitment to leading the company through this difficult period. He believes the new board members will play a crucial role in driving strategic initiatives focused on sustainable growth and client innovation. With their expertise, Admirals aims to overcome its financial challenges and strengthen its market position.
