Gediminas Mažeika, the head of the energy infrastructure development and maintenance company Tetas, left the company on Friday and resigned from his position. Tomas Urmanavičius, who has been the Chairman of the Board of Directors of the company, will temporarily head the company.
“The Board of Directors of Tetas has started the selection process for a new CEO of the company. It is expected to be appointed in June. T. Urmanavičius has suspended his position on the company’s Board of Directors, and on Friday’s meeting it was decided to temporarily delegate the position of the Chairman of the Board to Ieva Kuode, a member of the Board of Directors of Teto and the Head of Planning and Development of EPSO-G.
According to Urmanavičius, Tetas and the EPSO-G Group as a whole are now entering a new phase of their activities, implementing the Group’s Strategy 2030, which was approved last year, and continuing to develop their revenues from non-regulated activities.
“I thank Gediminas for his many years of work in leading Tetas, starting the company in a difficult period. At the time, the company, which was making operating losses and carrying out relatively simple infrastructure construction work, successfully expanded its range of services thanks to Gediminas’s drive and creativity, started operating abroad and became profitable. Currently, Tetas is a developer of infrastructure objects of great importance to Lithuania, and the new CEO’s priority will be the efficiency of the significantly increased operations and the successful implementation of the launched projects,” said T. Urmanavičius.
“Tetas, a member of the EPSO-G group of companies, is currently implementing the development of synchronisation projects with continental European grids, which are important for the country’s energy independence. The company is also one of the contractors used by EPSO-G for the construction of the Physical Barrier on the border with Belarus.
“We have been discussing with the Board for some time now the future directions and development phases of the company. In April, the company started working under the new organisational structure we have developed with the Board. At the same time, I decided to use my experience in other areas of activity,” said G. Mažeika.
More information
Antanas Bubnelis, Communications Manager, EPSO-G
Tel: 8 699 23404, email: [email protected]
