New Chairman of the Board of Novaturas Group elected

Novaturas Group, the leader in the Baltic tourism market, announces the election of a new Chairman of the Board of Directors, following the announcement of changes to the Board. Gediminas Almantas, an independent member of the new Board, has been appointed as the new Chairman.

“The company has presented its growth strategy and set ambitious plans to strengthen its leadership in the region, focusing on technological advancement, improving traveller experience, more sustainable travel and employee engagement. These strategic directions will be the priorities of our activities, which we will implement with a professional and growing team,” says Mr. Almantas, Chairman of the Board of Novaturas Group.   

Gediminas Almantas has more than 17 years of experience in various companies. Previously he worked at Copenhagen Airport, held the position of Director General of Lietuvos oro uostai for 4 years, and currently is a member of the Board of Directors and chairs the Audit Committee of Lietuvos oro uostai. 

As an independent member and chairman, he has extensive experience on other boards as well – Mr. Almantas has been a board member of EPSO-G Group for 7 years and the chairman of the board for 4 years, the chairman of the Lithuanian Red Cross Society for 8 years, and is currently the chairman of the board of LTG Infra. He has been an independent member of the Board of Directors and a member of the Audit Committee of AB Oro Navigacija since 2018. 

Mr. Almantas areas of expertise include organisational governance, good governance, organisational development, crisis management, ethics and building trust in organisations. 

It should be noted that three members have been elected for a new company’s Board term: Tomas Korganas and Gediminas Almantas, who will join the Board, and Ugnius Radvila, who will continue to work in the Board. 

The new three-member Board aims to make decision-making even more efficient and flexible, which is a priority for the growing company. It will also help to ensure even greater involvement of the Board members in the strategic processes of the company, while maintaining a balance of different competences.  

In the previous term, the Board of Directors of the company consisted of five members whose experience contributed significantly to maintaining the company’s leadership in the region, as well as to successfully coping with the turbulence in the tourism market caused by the pandemic and the war in Ukraine. 

This year, the Nasdaq Baltic Awards 2023 recognised Novaturas Group as the company that did the best job overcoming recent challenges and managing market change.  Novaturas won the title of “The Challenge of the Year” – an award specially established by Nasdaq Vilnius for the most significant contribution to the development of the Lithuanian and Baltic capital markets.

 

About the company  Novaturas Group is the largest tour operator in the Baltic States, offering summer and winter package holidays by plane to more than 30 destinations worldwide and more than 100 tours. 

Vygantas Reifonas

CFO of AB Novaturas