Mindaugas Jusius, CEO of KN, decided to leave the organization

Mindaugas Jusius, CEO of KN (AB Klaipėdos nafta), the operator of oil products and liquefied natural gas terminals, decided to leave organization for personal reasons. Board of KN was officially informed about the resignation from the office. Mindaugas Jusius will act as CEO of KN until the end of July.
 
M. Jusius was appointed as CEO of KN at the beginning of 2017. Before that, he was an independent member of the Board of the company, also worked at KN Audit Committee.
 
"It was a tough decision to make as I am cooperating with KN for almost ten years and I am proud of the results achieved by the company. Over the last two years alone, there have been several significant changes that have led to sustainable future growth. Strategic projects are already delivering tangible results. In July, an important phase of Klaipėda LNG terminal project will be implemented and it will allow us to reduce the cost of security of supply for consumers and provide the basis for a long-term LNG supply for the region. In May, an important stage of development of Klaipėda oil terminal was completed – an additional tank park was launched, expanding the possibilities of oil product reloading. In addition, KN strategy for the next decade will be approved by the end of the summer. Together with a team we have achieved important organizational changes that have contributed significantly to the reputation of KN as an employer. Currently KN is a strong, modern and competitive organization. The decision was not easy, but I think it is the best time for this kind of change, so that newly appointed CEO of the company could start with the new development stage of the company “, M. Jusius explains his decision to change the career direction. In future he plans to focus on developing various new business ideas.
 
According to Giedrius Dusevičius, Chairman of the Board of KN, a highly competent team will ensure that the organization successfully fulfills its goals and shareholder expectations.
 
“Of course, on behalf of the board, I would like to thank M. Jusius for his sincere and strong leadership in the company. The company employs excellent employees, competes very successfully in the oil product transshipment market, actively develops the business infrastructure, boldly goes into the global LNG infrastructure market. The company's business is not only stable but also promising as a long-term strategy is currently being finalized. Decision of M. Jusius is understandable and we will launch a selection process of the candidate for the position of KN CEO soon” says G. Dusevičius.
 
Board of KN plans to begin an open selection procedure for the position of CEO of KN soon. The selection process will be conducted in accordance with good governance practices for selecting top management.
 
“His activities will lead to high expectations from new CEO. KN is a strategic company, so the new CEO will have to ensure not only the continuity of activities and ongoing projects, but also to take on even greater challenges – to establish the company in the global market by developing and operating LNG terminals," notes Žygimantas Vaičiūnas, Lithuanian Minister of Energy.
 
According to the Minister, not only the effective management of the new stage of activities, but also the orientation towards high added value for all shareholders will be expected from new CEO of KN.