The CFO of Lithuanian telco Teo is to step down amid major restructuring changes.
Giedrius Vegys will depart on 22 May, as decided by the board, the company said in a statement.
The new corporate structure will see the finance division replaced by a…
The CFO of Lithuanian telco Teo is to step down amid major restructuring changes.
Giedrius Vegys will depart on 22 May, as decided by the board, the company said in a statement.
The new corporate structure will see the finance division replaced by a finance and strategic planning division, which the company contends will increase efficiencies and strengthen partnerships with suppliers.
Teo general manager Kestutis Sliuzas said the restructuring changes began earlier this month when the company, controlled by Sweden’s TeliaSonera, renewed its brand to apply it to all its services. The new structure is set to formally take effect in a few months, he explained.
As part of the changes, accounting director Antanas Poska has taken on the responsibilities of chief accountant. In addition, chief sales officer Edis Kasperavicius has decided to leave Teo after 10 years with the group but will serve as acting head of the sales and customer care division until July.
Listed on the Vilnius Stock Exchange, Teo is Lithuania’s largest integrated telco, IT and TV services provider.
