The Central Bank of Estonia’s Supervisory Board has interviewed four candidates for Governor and plans to choose its preferred nominee on 28 October, ahead of the end of incumbent Madis Müller’s term on 6 June 2026. The candidates are Andrus Alber, Ülo Kaasik, Kilvar Kessler and Margus Rink. With 11 members, the Supervisory Board will need at least six votes for a candidate to be successful. Under Estonian law, the board selects the Governor candidate and the President of the Republic of Estonia confirms the appointment, with the Governor serving a seven-year term and not eligible for more than one consecutive term. The shortlist includes Alber, formerly head of Nasdaq Tallinn and co-founder and CEO of Finora Group, with experience at the International Monetary Fund and Eesti Pank; Kaasik, a Deputy Governor since 2011; Kessler, Chair of the Finantsinspektsioon Management Board and a member of the Supervisory Board of the European Central Bank since 2014; and Rink, CEO of Coop Pank in 2016–2025. A national television broadcaster will host an hour-long debate between the candidates on 22 October at 11.00, with a radio rebroadcast at 14.00.
Central Bank of Estonia 2025-10-22
Central Bank of Estonia Supervisory Board interviews four governor candidates and plans selection on 28 October
The Central Bank of Estonia's Supervisory Board has interviewed four candidates for Governor, with a decision expected on 28 October. The candidates are Andrus Alber, Ülo Kaasik, Kilvar Kessler, and Margus Rink. The board requires at least six votes to select a nominee, who will then be confirmed by the President of the Republic of Estonia for a seven-year term.