Arco Vara AS Appoints Märt Meerits as New CFO
News related to:Arco Vara AS · 2 min read
Arco Vara AS appointed Märt Meerits as its new Chief Financial Officer (CFO) on 12 November 2026, effective immediately. The change comes as Darja Boshakova is set to leave the company in December 2026, ensuring a smooth transition of financial management responsibilities.
Under the leadership of Kert Keskpaik, who took office as CEO of Arco Vara AS on 8 October 2026, the company is focusing on improving capital efficiency and prioritizing the profitability of development projects. Keskpaik highlighted the critical role the CFO will play in achieving these objectives, emphasizing that Meerits' extensive experience in financial management, investment, and corporate leadership will be invaluable.
Meerits brings nearly three decades of experience to his new role. Most recently, he served as the CFO of the international corporate group Cryotech Nordic. In 2025, he held a fixed-term position as CFO of Endover, during which the company launched the largest bond programme in its history to finance the Volta SKAI development. From 2019 to 2025, Meerits served as CFO of Exmet Group, and from 2018 to 2019, he worked as a Project Manager at Endover. Prior to that, he was involved in raising capital for real estate projects at Crowdestate from 2015 to 2018. From 2010 to 2015, Meerits was a Member of the Management Board of AS Silvano Fashion Group, a company listed on the Nasdaq Tallinn and Warsaw stock exchanges. Previously, he served as CEO and Head of Investments at Trilliance Capital AG, Head of Investment Management at LFS Asset Management, Member of the Management Board of SEB Varahaldus AS, and Head of Private Banking at SEB.
Keskpaik expressed his gratitude to Boshakova for her excellent cooperation and contributions to the company. Under her leadership, financial processes have been automated, and a EUR 15 million bond issue was successfully completed.
The change of CFO will not result in any changes to the composition of the Management Board or Supervisory Board of Arco Vara AS. Meerits will become a Member of the Management Board of all Estonian subsidiaries of Arco Vara AS.