Lithuania, Port, Transport

On June 6, Jusius presented the company's board with resignation notice, due on July 26, the company announced via the Nasdaq Vilnius Stock Exchange.

The company says Jusius is leaving for personal reasons and also says he plans to focus on the implementation of new business ideas.

"It was difficult to make this decision as I have spent almost ten years with Klaipeda Nafta but I think now is the right time for change for a newly-appointed manager to start the new stage," Jusius said in a statement.

In his rods, now is a stage in his life when due to circumstances he can no longer give the company "so much time it needs."

Jusius says he wants to try himself in the business area. "I have several ideas I want to develop (…). It's not the energy area," he said.

Giedrius Dusevicius, board chairman at Klaipedos Nafta, said Jusius' decision is understandable, adding that a competition for a new manager will be announced soon.

Jusius took the helm of Klaipedos Nafta in April, 2017. Earlier he served as an independent board member and also worked for the company's audit committee.

Until then, he led Swedbank Life Insurance's Lithuanian branch for seven years and was its board chairman.

The State of Lithuania owns 72.32% in Klaipeds Nafta, and the Achemos Grupe business group has a stake of 10.41%.