Admirals Group Founder and Supervisory Board Chairman Takes over as CEO

(Alexander Tsikhilov, Upcoming Admirals Group CEO)

Alexander Tsikhilov, Chairman of the Supervisory Board of Admirals Group AS, has confirmed changes in the Group's leadership structure following the resignation of two members of the Admirals Management Board on Wednesday, 17 January 2024. 

Sergei Bogatenkov, Chief Executive Officer and Chairman of the Admirals Group AS Management Board, and Andreas Ioannou, Chief Operating Officer and Management Board member, noted their intent to resign from their respective roles and their imminent departure from the company to pursue separate professional goals. Their resignations will take effect on 29 February 2024. 

Tsikhilov, who is the founder of Admirals and long-standing member of the Supervisory Board, will reassume the executive role as the new CEO of the Admirals Group from 1 March 2024. 

"We thank Sergei and Andreas for their leadership and vision and wish to acknowledge the huge contributions they have made towards strengthening the foundations of the Company over the past few years," Tsikhilov says. 

"Change is always a challenge, but we remain steadfast in our vision to push Admirals towards a future full of new opportunities," he continues. "As we move ahead into 2024 our focus remains on driving growth through efficiency and adaptability to ensure that we continue to thrive in this highly evolving and competitive landscape. At the same time, we reaffirm our commitment to pursuing and maintaining a supportive, inclusive, and empowering work environment as a prerequisite for continued business success."

The Group is currently prioritising the alignment of its internal teams across the globe.  

"Striking the right balance between sourcing new talent and developing and harnessing the strength and capabilities of our current workforce, is key to achieving our vision," Tsikhilov concludes. 

New appointments to the Admirals Group AS Management Board will be announced soon. In line with Estonian legislative requirements, a new chairman to the Supervisory Board will also be appointed once Tsikhilov has assumed the CEO position.