Notification on material event
The new chairman of the Board was elected
Virginijus Lepeška, an independent member, was elected as the chairman of the Board of the Company during the board meeting on Monday, August 24. The Board is elected for four years and consists of 5 members, of which 2 are independent.
Virginijus Lepeška is the Chairman of the Board and Consultant of the management consulting and training company OVC Consulting. He has accumulated extensive experience in organizational consulting, corporate governance, strategic management. Since 2003, he has been a member of the Board and the Supervisory Board in various companies.
Virginijus Lepeška has a doctorate in social sciences (psychology) from Vilnius University. He is currently a member of the Board of UAB Svenheim, a member of the Board of UAB Alma littera and a member of the Advisory Board of UAB Ruptela. He is also a member of the board of the Child Support Center.
The Company has eliminated the Supervisory Board on July and continues the simplification of the management of the Company making it more efficient. Greater involvement of independent members in the management of the Company provides opportunities to supplement the existing competencies of the Company and make maximum use of the knowledge and experience of the current management and at the same time incorporate new approaches and good governance practices.
With Virginijus Lepeška the members of the Board team are Vidas Paliūnas, Ugnius Radvila, Andrius Jurkonis and Janek Pohla. The members of the Board of the Company are competent professionals with the needed experience.
Andrius Jurkonis – manager of the investment fund Axia Capital Fund and certified financial analyst. He has accumulated many years of experience in management positions at Euroapotheca, VST, Swedbank. A. Jurkonis has a bachelor's degree and a master's degree in economics from Vilnius University. He is currently the director of New Pharma CEE, a partner of UAB Blue flight, UAB Gusania. He holds no shares of the Company.
Janek Pohla is the founder and Board member of Tahe Outdoors and a member of the Board of the Estonian Chamber of Commerce and Industry. Tahe Outdoors has been a successful manufacturer and distributor of water sports equipment for more than 25 years, and is one of the leaders in the field in Europe. Since 2004 holds the position of a member of the Board in various companies. Janek Pohla holds a Bachelor's and Master's degree (MBA) in Business Administration from the University of Tartu. He is the Head of Rendez Vous OU in Estonia, which has owned 10.25% of Company’s shares since June. He is a member of a board of few companies in the Tahe Outdoors Group.
Ugnius Radvila and Vidas Paliūnas are long-term shareholders of the Company and members of the management structures, managing 9.49 and 6.86 percent, respectively, of Company's shares. Vidas Paliūnas was the Chairman of the Company's Supervisory Board, Ugnius Radvila was a member of the Supervisory Board.
About Novaturas Group
Novaturas Group is the leading tour operator in the Baltic States. As of March 21 2018, the Company's shares are dual-listed on the Warsaw and Nasdaq Vilnius stock exchanges.
The Company was established in 1999, became the market leader in the Baltics in 2004. Products of Novaturas Group are currently offered in all Baltic countries.
The customers appreciate high quality, reliability and variety of travel offers provided. The Group currently offers both summer and winter package holidays as well as sightseeing tours by coach or plane to more than 30 destinations worldwide, including the most popular holiday resorts in Southern Europe as well as selected locations in North Africa, the Middle East, Asia and Latin America.
The Group's strategy also aims to retain diverse distribution channels. Novaturas works with over 400 travel agencies, including all of the major agencies in the Baltics. It also operates retail offices of its own in main cities of Lithuania, Latvia and Estonia, and is developing its own e-commerce channels.
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