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According to Olainfarm representatives, the company’s current CEO Lauris Macijevskis will continue as chairman of the Olainfarm management board until the new Olainfarm head is appointed. Olainfarm plans to conclude the international tender by the end of October. After the appointment of the new Olainfam CEO, Macijevskis will continue to work on the company’s management board.

“In order to strengthen the management team of JSC Olainfarm, the Supervisory Council has decided to appoint a new candidate with international experience in pharmacy for the position of the Chairman of the Board of JSC Olainfarm. The change of the Chairman of the Board is a planned strategic decision in the direction of development of JSC Olainfarm in order to facilitate the acquisition of new markets and increase the international competitiveness of the company,” the company said in the statement to the stock exchange.

Amrop Latvia recruitment company has been hired to help select the new Olainfarm CEO.

Macijevskis has been chairing the Olainfarm management board since April 2019. He joined the company’s management board in August 2018, according to information available at Firmas.lv.

Olainfarm, registered in June 1991, has a share capital of EUR 19.719 million. The company’s largest shareholder is Olmafar, which belongs in equal parts of Valerijs Maligins’ heiresses Irina Maligina, Anna Emilija Maligina and Nika Saveljeva.

Olainfarm makes medicines, food supplements, active pharmaceutical ingredients and chemical substances. Olainfarm shares are quoted on the Main List of the Nasdaq Riga stock exchange.