On October 14, 2024, UAB "Vilniaus Prekyba," the sole shareholder of MAXIMA GRUPĖ, UAB, decided to dissolve the company’s Supervisory Board and approve a new version of the company’s articles of association accordingly.
The Supervisory Board, which consisted of three members from affiliated companies within the "Vilniaus Prekyba" group, functioned as a non-mandatory corporate governance body. The decision to discontinue the Supervisory Board was made to simplify the company’s management, transferring some of its functions to the sole shareholder, UAB "Vilniaus prekyba" and others to the board MAXIMA GRUPĖ, UAB. From the date of registration of the amended articles of association, the sole shareholder will have the authority to appoint and dismiss the members of the board of MAXIMA GRUPĖ, UAB. The current board members will remain in their positions for the duration of their ongoing term.
After the dissolution of the Supervisory Board, the audit committee, appointed on 19 March 2024 by the sole shareholder, will continue to operate, with the majority of its members remaining independent.
Additional Information
MAXIMA GRUPĖ, UAB manages retail chains "Maxima" (in the Baltic countries), "Stokrotka" (in Poland), "T Market" (in Bulgaria), and the online food store "Barbora," operating in the Baltic countries.
MAXIMA GRUPĖ, UAB is part of the "Vilniaus prekyba" group of companies. Through its other subsidiary companies, "Vilniaus prekyba" controls investments in retail and pharmacy chains, as well as real estate development and rental service companies in the Baltic countries, Sweden, Poland, and Bulgaria.
