Mr. Dalius Kaziunas, the member of the board of Invalda, one of the largest investment companies in Lithuania, will replace Mr. Darius Sulnis as the president of the company starting January 2012. Mr. Darius Sulnis will stay as an active member of the Board of Invalda.
The appropriate decision of the board of Invalda has been issued on 8 December 2011 following the proposal presented by D.Šulnis.
“I believe that a sense of responsibility, correctness, common sense and long-term investment experience of D.Kaziunas will contribute to retain and to further increase equity value to investors of the company”, – said D. Sulnis.
Mr. Sulnis has noted that currently Invalda group manages both successful businesses and significant amount of free cash. This situation of Invalda is so far the best in the company’s history. “This advantage, which becomes even more enhanced by the overall business environment, gives us numerous possibilities for further development”, – said D.Sulnis.
Dalius Kaziunas, 35 years old, started a career as an assistant of the broker at the financial brokerage firm Finasta in 1996 (Finasta has became the subsidiary of Invalda in 1998), at that time still a student. Later D.Kaziunas worked as the financial broker and in 2002 became the chief executive officer of Finasta. In 2008-2009 Mr. Kaziunas was the general manager and the chairman of the board of the newly established Bank Finasta. Since 2008 Mr. Kaziunas is the member of the board of Invalda. During professional career Dalius Kaziunas has gained unique experience (both local and international) in business processes, restructuring, team organisation, mergers and acquisitions.
“I plan to continue the initiated projects and believe that I am able to implement the main objective of Invalda to steadily increase the shareholders equity value”. – said D.Kaziunas.
According to Mr. Sulnis, there were two main reasons of the decision to initiate changes. “I believe that if companies and people seek to self improve, they need to change from time to time. Moreover, being a step away from the day-to-day business, I will be able to focus on the decision making in respect of development alternatives of Invalda”, – said D.Sulnis.
The consolidated assets of Invalda group amounted to 704.3 million Litas as of 30 September 2011. The part of consolidated profit attributable to the shareholders of the company was 233.7 million Litas.
About Invalda AB
Invalda AB, established in 1992, is the investment company whose primary objective – focusing on long-term stable growth, successful development of activities and assuring financial returns to shareholders. The largest part of Invalda Group activities are performed in Poland and Lithuania.
Shares of Invalda have been listed since December 19, 1995 (then the National Stock Exchange of Vilnius, Lithuania). From the January 1, 2008 the company’s shares have been on the Main List of NASDAQ OMX Vilnius stock exchange.
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The person authorised to provide additional information:
Darius Sulnis
President
Tel. +370 5273 4876
Email: [email protected]