Novaturas Group appoints new Board of Directors
Today, a new board of directors was elected at the Ordinary General Meeting of Shareholders of AB Novaturas. Two new members – Sebnem Gunel and Chris Mottershead, both with extensive international experience in managing tourism businesses – have been appointed to the board. Gediminas Almantas, who has already been serving on the board, will continue in this role and was re-elected as Chair of the board during the first meeting of the new board held today. The board is elected for a two-year term.
“The appointment of a new board marks an important step in reinforcing Novaturas’ governance and strengthening our market position. I’m confident that the diverse expertise and international perspectives of the new members will contribute to effective strategic decision-making and generate lasting value for our customers, shareholders, and partners. Together, we aim to accelerate Novaturas’ growth and leadership in the Baltic market by leveraging synergies with our new investor’s businesses and delivering distinctive, competitive travel offerings to our clients,” said Kristijonas Kaikaris, CEO of Novaturas.
The new board takes office at a pivotal moment for the company. Earlier this year, Novaturas announced the onboarding of a strategic investor – Turkish tourism businessman and investor Neset Kockar, who owns businesses in international aviation, real estate, tourism and other industries. In April, the company completed the first stage of the transaction, through which Mr. Kockar acquired a 23.2% stake in Novaturas from three individual shareholders. The second and final stage of the deal – after which Mr. Kockar would hold a 33.19% share in the company – is expected to close this autumn.
Ms. Sebnem Gunel, newly elected to the Novaturas board, is a qualified professional with extensive experience across multiple industries. She began her career in 1994 in Istanbul, Turkey, working in the insurance and pharmaceutical sectors within budgeting and planning departments. In 2004, she transitioned into the tourism industry, joining a tour operator based in Antalya, Turkey. In 2006, she moved to Anex Group, where she established and led the Reporting Department. Between 2011 and 2016, she focused on management consulting, providing strategic advisory services. Upon returning to Anex Group, Ms Gunel assumed various executive roles, concentrating on the group’s international expansion and organizational development. She currently serves as the Director of the group’s operations in the Netherlands and continues to lead global expansion and restructuring initiatives within the company.
Mr. Chris Mottershead, who also joins the board, is a qualified Management Accountant (ACMA) and Managing Director with over 30 years of international experience in the tour operating and travel industry. He has successfully led turnarounds, growth initiatives, and business transformations across travel companies of various sizes. Mr Mottershead has served as Managing Director at TUI UK, TUI Canada, Thomas Cook UK, Airtours Holidays, among others. He is currently President of the Institute of Travel and Tourism and the owner of the Oasis Hotel in Kalkan, Turkey.
Continuing on the new board as an independent member is Gediminas Almantas, who has served as Chair since 2023. He has extensive leadership experience in both Lithuanian and international organizations. A former CEO of Lithuanian Airports, he currently chairs its board, and also serves as Chairman of the Board at LTG Infra and as a board member at KN Energies.
The newly appointed board assumes its responsibilities immediately following the General Meeting of Shareholders.
About the company
The Novaturas Group is a tour operator offering the widest range of travel destinations from the Baltic States. It has been operating in the region for more than 25 years. The company offers summer and winter recreational, sightseeing, exotic, skiing, workation and group trips to many destinations worldwide. According to audited data, in 2024, Novaturas Group recorded revenues of EUR 201 mln. and served 239 thsnd. passengers in Lithuania, Latvia and Estonia.
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Auksė Kriaučiūnaitė
Interim CFO
