Transfer took place since the founder of the company, Mr. Mati Vetevool felt that it’s time to step give main responsibility to his son. This didn’t, by any chance, mean that he cut off completely from running a business, but Mr.Mati Vetevool took the role of CEO and Meelis Vetevool became Chairman of the board. It was easy to find a successor since the son had been actively working in the company alongside his father. Therefore, the transfer process was very dynamic. Next to the son, also the grandson is working in the company and this should guarantee the long-term sustainability for the company.
Actually, since it was family transfer, not many challenges were encountered. All topics were handled with careful discussion and since Mr. Mati Vetevool remains active in the company- questions can always be asked and will be answered. Company was innovative throughout it’s history and new process and working methods have been implemented along the way. What is a great example of family transfer and exchange of know-how, is involvement of grandson. He is in charge of internet marketing and using all the new channels of marketing such as social media and other platforms. Mr. Mati Vetevool was awarded with life-long work achievement by E&Y in 2018. Here’s a story of export by successor- Meelis Vereool: Story
| Previous | Current | |
| Owner | Mati Vetevool | Meelis Vetevool |
| Legal form of the company | Ltd | Ltd |
| Number of employees | 142 | 142 |
| Brand | Model of transfer | Involved institution | Country |
| Engineering | 1 Family transfer | Nor third party institutions | Estonie |
