The Supervisory Board of Coop Pank AS elected Mr. Karel Parve as the new Member of the Management Board, who will head Retail Banking. Karel Parve term of office as a Member of the Management Board commences on November 1, 2023 and is effective until October 31, 2026. Karel Parve was also elected to be a Member of the Supervisory Boards of Coop Finants AS, Coop Liising AS and Coop Kindlustusmaakler AS, all subsidiaries of Coop Pank AS.

His term of office as a Supervisory Board Member shall commence on November 1, 2023. Also, the powers of Arko Kurtmann as a Member of the Supervisory Board of Coop Finants AS, were extended until October 31, 2026. Karel Pave holds a bachelor's degree in international relations from Bucknell University.

Since 2019, he has been working at LHV Bank, where he last managed the private banking unit. He has previously worked at Luminor Bank as product manager for private lending products and Scrum Master in project and change management unit and Swedbank as project manager and area manager in department of customer experience management. Karel Parve does not own any shares of Coop Pank AS.