New Board Members Strengthen Novaturas Group
In a significant development, AB Novaturas has elected a new board of directors during its Ordinary General Meeting of Shareholders. This board includes two new members, Sebnem Gunel and Chris Mottershead, who bring a wealth of international experience in the tourism sector. Gediminas Almantas is re-elected to continue serving as the Chair of the board, ensuring ongoing leadership continuity as the board embarks on a two-year term.
Strategic Vision for Growth
The formation of the new board comes at a vital juncture for Novaturas. Kristijonas Kaikaris, CEO of Novaturas, expressed confidence that the diverse expertise of the newly appointed members will bolster strategic decision-making and enhance value for customers, shareholders, and partners alike. "Together, our goal is to accelerate Novaturas’ growth and solidify its leadership in the Baltic market by leveraging synergies with our new investor’s businesses," he stated.
Investor Involvement and Future Plans
Earlier in the year, the company welcomed a strategic investor, Turkish businessman Neset Kockar, who has a portfolio spanning various industries including aviation and tourism. His acquisition of a significant stake in Novaturas marks a transformative step for the company. Following an initial 23.2% stake acquisition in the company, Kockar is set to acquire a further 10.89% in an upcoming transaction, leading to a 33.19% ownership stake. This change paves the way for innovative travel offerings that cater to the evolving preferences of customers.
The Experience of Board Members
Sebnem Gunel, one of the newly appointed directors, has an impressive background. Having begun her career in Istanbul in the 90s, she transitioned to tourism in 2004, where she made significant impacts with her leadership at Anex Group. Currently, she oversees the group's operations in the Netherlands, steering growth and restructuring efforts for international expansion.
Joining Gunel is Chris Mottershead, a seasoned Management Accountant and Managing Director with over three decades in the travel industry. His extensive career includes leading renowned companies like TUI UK and Thomas Cook UK, where he was instrumental in implementing growth strategies and operational transformations. He is also the President of the Institute of Travel and Tourism and owns the Oasis Hotel in Kalkan, Turkey.
Continuity in Leadership
Gediminas Almantas’s continuity as an independent member of the board brings stability and seasoned insight to the governance structure. His leadership in various Lithuanian and global organizations equips him with the knowledge to expedite Novaturas’ growth agenda. Having also served as CEO of Lithuanian Airports, Almantas’s experience underscores the board’s commitment to leveraging industry connections for better operational outcomes.
Immediate Responsibilities of the New Board
With the newly appointed board now in office, their immediate focus is on rolling out effective strategies that will propel Novaturas into a new era of growth. The company aims to adapt its offerings, enhancing its competitiveness in the travel sector and catering to the diverse preferences of its expanding customer base. The strong leadership team is poised to make significant strides in providing superior travel experiences.
About Novaturas Group
The Novaturas Group serves as a leading tour operator, offering an extensive range of travel experiences from the Baltic States for over 25 years. Catering to a wide variety of interests, the company organizes summer, winter, and exotic trips alongside group and workation travel options. According to recent financial metrics, Novaturas recorded revenues of EUR 201 million and welcomed 239,000 passengers from the Baltic regions.
Frequently Asked Questions
What is the main purpose of the new board of directors for Novaturas?
The new board aims to reinforce governance and strengthen the market position of Novaturas through effective strategic direction and decision-making.
Who are the newly appointed directors for Novaturas?
Sebnem Gunel and Chris Mottershead are the new board members, both bringing extensive international experience in tourism and travel management.
What strategic movement is Novaturas undertaking with its investor?
Novaturas is collaborating with strategic investor Neset Kockar to enhance growth and operational offerings by capitalizing on his extensive business interests.
How long is the term for the new board members?
The board members are elected for a term of two years, during which they will govern Novaturas and implement key strategies.
What kind of destinations does Novaturas Group offer?
Novaturas Group offers a variety of travel packages including recreational, sightseeing, exotic, and skiing trips across multiple international destinations.
