Teo CEO Šikšta to leave company

Arūnas Šikšta, the CEO of Lithuanian service provider Teo, is to leave the company.

Šikšta, who has led Teo since 2004, will be replaced on an interim basis by chief financial officer Giedrius Vegys. Antanas Poška, currently director of Teo’s accounting department, will temporarily act as chief financial officer.

“Teo proved its success for many years and managed to maintain its leading positions on the market. Teo currently is a strong company and I believe that Giedrius Vegys will lead a smooth transition until appointment of new General Manager. I have a strong confidence that Teo will continue to create a high value for its customers, employees and shareholders,” said Malin Frenning, the chairwoman of Teo’s board.

“During the last nine years Teo became one of the largest telecommunication companies in the Baltic States, providing universal communication, data transmission, TV and IT services. I am especially proud that together with the one of the most professional team in Lithuania we managed to ensure not only a high profitability but also high confidence of the customers. After implementing those objectives I am ready for new professional activities,” said Šikšta.