Lauris Macijevskis leaves his position as JSC Olainfarm Management Board member

on June 9, 2020

On June 8, the current member of the Management Board of JSC Olainfarm, Lauris Macijevskis submitted a letter of resignation to the Supervisory Council. Accordingly, he will continue to be in the position until June 12. Lauris Macijevskis has been a member of the Management Board of JSC Olainfarm since April 4, 2019, and his task was a turnaround and crisis management.

2019 has been the most successful year in the history of JSC Olainfarm. During 2019, the Group’s revenue exceeded EUR 137 million, but the net profit in 2019 was EUR 23,63 million, which is historically the largest amount of the Group’s net profit.

“The time spent at JSC Olainfarm has been professionally very exciting. Thanks to the entire Olainfarm team and the company’s Supervisory Council for constructive cooperation. I leave my position with a feeling of job well-done and the company in excellent financial condition. Given Olainfarm’s ambitious plans and planned development, there will be an increasingly important role of pharmaceutical industry professionals, who are currently strongly represented on the Management Board of the company. I have decided to build my professional future in the private business sector by sharing my expertise and experience more widely,” Lauris Macijevskis comments on his decision.

“We would like to express our gratitude towards Lauris Macijevskis on his work for Olainfarm and wish him further professional success. His work has helped the company to strengthen its position during the changes and create a strong foundation for future operations,” emphasizes Gundars Bērziņš, Chairman of the Supervisory Council of JSC Olainfarm.

During a time when the overall economy around the world has slowed down, the financial situation of JSC Olainfarm can be assessed as stable. This is the result of the company’s improvements over the past year, both internally and externally, which now allows the company to withstand even external shocks such as the 24% depreciation of the Russian ruble against the euro in the first quarter of this year. Despite the unprecedented external environmental conditions due to the Covid-19 pandemic, the Olainfarm Group continues to work towards achieving its goals.

Lauris Macijevskis sees his further professional development in the company “EMPO Ventures” founded together with other partners, which will have two areas of expertise – raising of investments for new development projects and assistance to companies facing financial difficulties.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 45 years of experience in the production of medication and chemical and pharmaceutical products. A basic principle of the company’s operations is to produce reliable and effective top -quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 50 countries and territories of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America, and Australia.

Lauris Macijevskis leaves his position as JSC Olainfarm Management Board member