Regarding the planned changes in the management of AUGA group, AB

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In order to bring the maximum value to AUGA group, AB (hereinafter – the Company), ensuring the continuity of the strategy and the oversight of existing activities, and focusing on the direct management of the activity with the greatest potential – technology development, the CEO of the Company, Kęstutis Juščius, intends to transition from his current position to the newly elected Board of the Company (as announced in the notification of a material event  of 15 September 2023), while also remaining as the head of AUGA Community, UAB, the company responsible for technology development.

“I would like to emphasize that I am not stepping away from the Company’s activities, on the contrary, I intend to become even more deeply involved. As one of the main shareholders, I have a vested interest in the success of AUGA. My goal is to focus on those areas that have the most significant impact on the Company’s strategy implementation and its future results, namely, technology development. Therefore, I will continue to lead the group’s company, AUGA Community, which is responsible for the development of agricultural technologies and sustainable farming standards. By working on the Company’s Board, I will be able to participate at the highest level in strategic management and the oversight of existing business branches. I believe that this decision will bring the greatest benefit to the Company,” comments Kęstutis Juščius, CEO of the Company.

By decision of the Board of 20 October 2023, Elina Chodzkaitė-Barauskienė has been appointed as interim CEO for a transition period from 7 November 2023 until a new CEO is elected by the new Board. In this way, the aim is to ensure the smooth day-to-day operation of the Company and consistent implementation of the strategy.

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Elina Chodzkaitė-Barauskienė has been leading the Company’s Business Development and Innovation Department since 2019. She was one of the main creators of the current Company’s business strategy and has been coordinating its implementation in the group’s activities. Elina Chodzkaitė-Barauskienė has also actively contributed to the development of the new technology-sharing business model and, together with the working group, is continuing its implementation within the group. Before joining the Company, E. Chodzkaitė-Barauskienė worked for 7 years at the public institution Invest Lithuania engaging with major foreign investors in the fields of manufacturing and life sciences. E. Chodzkaitė-Barauskienė completed bachelor’s studies at University College London (UCL) in the U.K. and master’s studies at the Diplomatic Academy of Vienna in Austria.

“I am confident that the new CEO Elina Chodzkaitė-Barauskienė, who possesses the necessary competencies and experience in this strategy implementation context, will ensure the daily operations of the Company, their continuity, and meet the expectations of existing shareholders. By appointing an interim CEO, we will create the conditions for the new Board to quickly integrate with the Company’s activities and have sufficient time to search out a new CEO, who will continue the ongoing work and create value for all stakeholders,” says Dalius Misiūnas, the Chairman of the Company’s Board.

As announced in the notification of a material event of 15 September 2023, after an evaluation of the managerial needs associated with the transformation towards a technology-sharing business model, the Company‘s Board, in agreement with the CEO Kęstutis Juščius has decided to call an Extraordinary General Meeting of Shareholders on 7 November 2023 to revoke the current Board and elect new members of the Board. The proposed candidates for the new Board are: Andrej Cyba, current member of the Company’s Board and Chairman of the Audit Committee, and Kęstutis Juščius, current CEO.

For more information on the EGM see:

  1. https://view.news.eu.nasdaq.com/view?id=b71862c58f968be37e6ac12a8e6c3450c&lang=en
  2. https://view.news.eu.nasdaq.com/view?id=b91c4720111e897a0545eadb1f115e5ed&lang=en

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

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