Regarding the planned changes in the management of AUGA group, AB
20 Octubre 2023 - 8:01AM
Regarding the planned changes in the management of AUGA group, AB
In order to bring the maximum value to AUGA
group, AB (hereinafter - the Company), ensuring the continuity of
the strategy and the oversight of existing activities, and focusing
on the direct management of the activity with the greatest
potential - technology development, the CEO of the Company,
Kęstutis Juščius, intends to transition from his current position
to the newly elected Board of the Company (as announced in the
notification of a material event of 15 September 2023), while
also remaining as the head of AUGA Community, UAB, the company
responsible for technology development.
"I would like to emphasize that I am not
stepping away from the Company's activities, on the contrary, I
intend to become even more deeply involved. As one of the main
shareholders, I have a vested interest in the success of AUGA. My
goal is to focus on those areas that have the most significant
impact on the Company's strategy implementation and its future
results, namely, technology development. Therefore, I will continue
to lead the group's company, AUGA Community, which is responsible
for the development of agricultural technologies and sustainable
farming standards. By working on the Company's Board, I will be
able to participate at the highest level in strategic management
and the oversight of existing business branches. I believe that
this decision will bring the greatest benefit to the Company,"
comments Kęstutis Juščius, CEO of the Company.
By decision of the Board of 20 October 2023,
Elina Chodzkaitė-Barauskienė has been appointed as interim CEO for
a transition period from 7 November 2023 until a new CEO is elected
by the new Board. In this way, the aim is to ensure the smooth
day-to-day operation of the Company and consistent implementation
of the strategy.
Elina Chodzkaitė-Barauskienė has been leading
the Company's Business Development and Innovation Department since
2019. She was one of the main creators of the current Company's
business strategy and has been coordinating its implementation in
the group's activities. Elina Chodzkaitė-Barauskienė has also
actively contributed to the development of the new
technology-sharing business model and, together with the working
group, is continuing its implementation within the group. Before
joining the Company, E. Chodzkaitė-Barauskienė worked for 7 years
at the public institution Invest Lithuania engaging with major
foreign investors in the fields of manufacturing and life sciences.
E. Chodzkaitė-Barauskienė completed bachelor's studies at
University College London (UCL) in the U.K. and master's studies at
the Diplomatic Academy of Vienna in Austria.
“I am confident that the new CEO Elina
Chodzkaitė-Barauskienė, who possesses the necessary competencies
and experience in this strategy implementation context, will ensure
the daily operations of the Company, their continuity, and meet the
expectations of existing shareholders. By appointing an interim
CEO, we will create the conditions for the new Board to quickly
integrate with the Company's activities and have sufficient time to
search out a new CEO, who will continue the ongoing work and create
value for all stakeholders," says Dalius Misiūnas, the Chairman of
the Company's Board.
As announced in the notification of a material
event of 15 September 2023, after an evaluation of the managerial
needs associated with the transformation towards a
technology-sharing business model, the Company‘s Board, in
agreement with the CEO Kęstutis Juščius has decided to call an
Extraordinary General Meeting of Shareholders on 7 November 2023 to
revoke the current Board and elect new members of the Board. The
proposed candidates for the new Board are: Andrej Cyba, current
member of the Company's Board and Chairman of the Audit Committee,
and Kęstutis Juščius, current CEO.
For more information on the EGM see:
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https://view.news.eu.nasdaq.com/view?id=b71862c58f968be37e6ac12a8e6c3450c&lang=en
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https://view.news.eu.nasdaq.com/view?id=b91c4720111e897a0545eadb1f115e5ed&lang=en
CEO of AUGA group, ABKęstutis Juščius+370 5 233
5340
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