Mazeika takes over Leo LT

VILNIUS - GintautasMazeika, the CEO of the power distribution grid operator Rytu SkirstomiejiTinklai, has been appointed the head of Lithuania'snational energy company Leo LT.

Among its other duties, Leo LT was created to act as an investment vehicle forthe planned nuclear power plant and other multi-billion-lita energy projects.

Mazeika, 41, on Monday will take over as chairman of the management boardand chief executive officer of Leo LT from Rymantas Juozaitis, who resignedfrom this position earlier this week. Juozaitis had headed the company sinceits inception nearly five months earlier.

Mazeika, a financial expert and business administrator by profession, tookthe helm of RST in July after eight years in the insurance business: at BonumPublicum, a life insurance company of Ukio Banko Investicine Grupe (Ukio BankasInvestment Group), and then as the CEO of the PZU Lietuva insurance company.

Mazeika was chosen from a number of possible candidates, including Vilius Bernatonis,a lawyer with the lawyers' office Sutkiene, Pilkauskas Ir Partneriai, ValdasBancevicius, the power grid director at RST, and Darius Montvila, deputy CEO ofHanner real estate development group, to the new board of Leo LT

Bernatonis, Bancevicius, and Montvila will hold positions onthe company's supervisory board.

Ramunas Biciulaitis, a member of incumbent Leo LT board and company's CFO,would remain on Leo LT board.

Apart from Biciulaitis and Juozaitis, the outgoing board includes SauliusSpecius, a former aide to the prime minister, Dalius Sulga and Egle Dauniene.