AUGA group, AB aims to ensure successful implementation of a tech-sharing business model by planning changes in the board composition and CEO position


On 15 September, 2023, after a careful evaluation of the managerial needs associated with the transformation towards a technology-sharing business model, the AUGA group, AB (hereinafter the Company) Board, in agreement with the Company’s CEO Kęstutis Juščius, has proposed to renew the structure of the Board. It has been proposed to call an Extraordinary General Meeting (hereinafter EGM) on 7 November, 2023, to revoke the current Board and elect new members, where the Board puts forward two candidates – the current CEO Kęstutis Juščius and an independent member of the present Board, Andrej Cyba.

To be able to accept the nomination and comply with legal framework, whereby the law does not allow the CEO to simultaneously serve as a Board member, the CEO, Kęstutis Juščius, has taken the decision to step aside from his current role, effective on 6 November, 2023.

“The implementation of a tech-sharing business model is a new phase in the Company’s operations, demanding even more knowledge and commitment. Therefore, I need to focus on the development and expansion of sustainable farming technologies. Given the need to maintain the highest governance standards for the group’s business segments, we will look for the most outstanding candidates for the new CEO of AUGA group, AB,” – comments Kęstutis Juščius on the situation. In order to ensure a smooth transition, Kęstutis Juščius will remain fully committed to address any arising business needs. The new Board will be responsible for appointing a new CEO.


 “Since 2019, the independent Board has come a long way with the Company. In 2020, the Board approved the Company’s AUGA 2025 strategy, with the ultimate objective to make a positive impact of the food value chain and share sustainable technologies with farmers. During this challenging and intensive period, ground projects essential for the successful implementation of the strategy were carried out: a new organizational structure was established, a portfolio of green farming technologies was crystallised, a hybrid electric and biomethane-driven tractor was introduced, and a more sustainable organic food products for consumers were launched.

We have found now to be the right time to review the Governance of the Company,” says the chairman Dalius Misiūnas.

“As we conclude the essential preparatory phase for further technology business expansion, I am grateful to the Company’s board for their significant contribution to the said strategic projects and for cultivating good governance practices within the Company,” states the Company’s CEO Kęstutis Juščius.

The announcement pertaining to additional information about the EGM will be provided in a separate stock exchange announcement.

CEO of AUGA group, AB
Kęstutis Juščius
+370 5 233 5340

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