TEO LT, AB - Notification on material event

TEO Business to Consumer Division will be led by N.Ivanauskas, Business to Business Division - by A.Samuchovas

On 7 April 2014 the Board of TEO LT, AB (hereinafter - TEO or “the Company”)
appointed the managers of the units in the new company structure, which will
take effect in June. The Business to Consumer Division will be led by Nerijus
Ivanauskas, who is currently Chief Marketing Officer. The Head of the Business
to Business Division will be Aleksandras Samuchovas, who is currently Director
of TEO Group company Baltic Data Center (BDC). 

The two new Business to Consumer and Business to Business Divisions, in charge
of creating services and providing customer care, will be formed in place of
existing Service Development and Sales Divisions. The goal of these changes is
to ensure better customer experience and to be able to offer them more suitable
and simpler solutions. 

According to TEO General Manager Kęstutis Šliužas, the appointed Heads of the
Divisions responsible for working with customers are the top-managers of TEO
Group, having extensive experience in the field of telecommunications. “TEO
will aim to be closer to the customer, also will put more focus on providing IT
services, therefore the experience of Nerijus and Aleksandras in creating IT
services for private and business customers as well as providing customer care
will be very valuable,” - K.Šliužas said. 

N.Ivanauskas, who is leading the Service Development and Marketing Division for
eight years already, is working in TEO Group since 1998. He was leading the
marketing, service development and sales units in Lintel, former Lietuvos
Telekomas and Lietuvos Telekomas Business Solutions. Forty-three years old
N.Ivanauskas has a BA degree of Vilnius University in econometrics, MA in
business administration of Atlanta (USA) Emory University, he also studied in
Budapest International Business School and Aalborg University in Denmark. 

A. Samuchovas will continue as the Director of BDC, where he is working since
2012. Before coming to BDC he was the Director of TEO Business Solutions
Department for four years, he was also leading Sales Department and was working
in Market Segments Unit of the Company. Forty-one years old A.Samuchovas has
completed MBA business management programme of Vienna University of Economics
and Business, Master programme of ISM University of Management and Economics as
well as BA studies in Economics of Vilnius University. 

With the changes of the structure, Giedrė Tarbūnienė will join the management
team and will lead the Process Division and the Programme of Customer
Experience. Having gained experience in SEB bank, in Estonia, leading
International Programme of Strategic Change and Efficiency, she joined TEO team
in February this year. G.Tarbūnienė has also worked as an economist in the
World Bank, as well as in international companies of executive search in
Lithuania and Ukraine. 

TEO Process Division will be formed instead of Customer Operations and Quality
Division. Its' manager Eglutė Bivainienė has decided to leave TEO Group at the
end of May. 

Darius Didžgalvis, Manager of TEO Network Technologies Division will leave the
company from 8 April 2014. This Division will temporarily be led by Vytautas
Bučinskas, Manager of TEO Risk Management Unit. 

“I would like to thank sincerely Darius and Eglutė, thanks to their efforts TEO
was for a long time and still is leader in telecommunications in Lithuania,
they also contributed to exceptional technological progress of the whole
country. Together with the new team of managers we will go further, aiming not
only at evaluation of international experts, but also at simpler and more
suitable solutions to our customers”, - K.Šliužas said. 

In the new TEO structure the Human Resources Division will be led by Ramūnas
Bagdonas, Legal Affairs - by Eglė Gudelytė-Harvey, Corporate Affairs - by
Antanas Bubnelis, Risk Management - by Vytautas Bučinskas, Internal Audit - by
Kastytis Kmitas. In the new structure instead of Finance Division, the Finance
and Strategic Planning Division will be formed. Currently all the rights,
duties and powers of the chief accountant are vested to Antanas Poška, Director
of Accounting Department. 




         Egle Gudelyte-Harvey,
         Director of Corporate Administration and Legal Affairs Unit,
         tel. +370 5 236 7292