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Once Alvydas Šustikas decided to leave Maxima Grupė managing retail companies in Lithuania, Latvia, Estonia, Poland and Bulgaria, the Board of the company appointed a new CEO and a Chairman of the Board. Since 8 February, Robertas Čipkus, Director of Finance of the company, will be appointed the CEO of Maxima Grupė and board member of Maxima LT. Petras Jašinskas, a member of the Company’s Board, was elected the Chair of the Board of Maxima Grupė. Legal Director Eugenijus Filonovas was also appointed to the Board of Maxima Grupė.

“We are very grateful to Alvydas Šustikas for his contribution and professionalism in the development of the group’s activities and the launched new stage of its transformation” - said the Chair of the Board of UAB Vilniaus Prekyba Raimonda Kižienė.

According to R. Kižienė, Maxima Grupė will continue its role as a consolidating institution; however, its role in the organization of Maxima business will change, because the company’s activities are moving closer to the business taking place in each country. “After the governance reform, we can coordinate and adopt more decisions in supervisory institutions established in Lithuania, Latvia and Estonia, where to managers of Maxima Grupė have also been delegated” - said R. Kižienė.

UAB Vilniaus Prekyba started changing the governance of its subsidiaries in December of last year. Boards were formed or renewed in Vilniaus Prekyba Group companies Maxima Grupė, Maxima LT, Maxima Latvia, Maxima Eesti, Euroapotheca, Akropolis Group, Ermitažas and Franmax. The aim of the change is to improve corporate governance by delegating members of the Board and CEOs of parent companies to boards of subsidiaries. This step is also aimed at ensuring sustainable development of companies and increasing their performance efficiency.