TEO LT, AB - Notification on material event

Teo and Omnitel have formed a joint management team

On 1 December 2015, the Board of Teo approved a joint management team for
Omnitel and Teo that from January 2016 will lead the companies to offer new
joint broadband and mobile communication, Internet, television and IT services. 

As announced in October 2015, Kęstutis Šliužas will become the CEO of the two
companies from 1 January 2016. According to him, the goal when forming the new
management team was to find personalities who would be characterized by their
focus on customer and would have multi-faceted business experience and ability
to learn quickly, develop their team members, identify new business
opportunities and implement them. 

“At the same time, I would like to thank the current management teams of
Omnitel and Teo which over the past two years managed to achieve remarkable
business results and implement significant changes in both organizations”, - K.
Šliužas said. 

Petteri Ahonen was appointed to the position of the Head of B2B of the joint
management team. He is currently the Head of B2B at Omnitel. Before joining the
team of Omnitel, Petteri worked as the Head of Service Business at DataInfo, a
company belonging to TeliaSonera and engaged in business consulting as well as
mobile devices and IT hardware management services in Finland. He has acquired
rich experience in the fields of sales and marketing while working at such
companies as Volvo Finland, Robert Bosch GmbH and Netseal Oy. 

The position of the Head of B2C will be taken by Norbertas Žioba, who will join
the new management team from 18 December 2015. Over the last three years,
Norbertas worked as the head of Retail as well as Marketing and Sales
Departments at Maxima LT, and before that he worked as the Head of Business
Development at Danske Bank. He has gained experience in the telecommunications
field while working at telecommunication company Bitė. He also worked at
international company Procter & Gamble. 

Andrius Šemeškevičius, who is presently the Head of Technology & IT at Teo,
will become the Head of Technology. Andrius joined the team of Teo after his
9-year career at Rimi Baltic Group, where during the last 6 years he worked as
IT Manager for Baltic States and was responsible for IT management of the
retail trade network in Lithuania, Latvia and Estonia. 

Andrius Byčkovas, current CTO at Omnitel, will hold the position of the Head of
Competitive Customer Operations from January and will be responsible for the
transformation program of both businesses, implementation of strategic projects
and improvement of operational efficiency. Andrius joined Omnitel from SEB
Bank, where for 7 years he worked as the Head of IT and was responsible for IT
management strategy and upgrading of the core information system. He also has 8
years of experience of working at Baltic Amadeus, where he was the Director of
Custom Solutions Centre. 

The position of Chief Financial Officer will be taken by Laimonas Devyžis, who
currently is CFO at Omnitel. His previous experience includes more than 5 years
of working as CFO and member of the Board at Lietuvos Draudimas. During his
ten-year career, Laimonas has built up solid experience not only in the field
of finance, but also in corporate governance. He worked as CFO at property
management company Eco Supplies Europe AB (Sweden), also worked at Ernst &
Young and Core Cap. 

Ramūnas Bagdonas has been appointed as the Head of Human Recourses. He is
heading HR at Teo since the beginning of the last year. Before that, for 13
years he worked at Philip Morris International. He started his career in
Lithuania and later he continued in Poland where he worked as Director Lead HR
Business Partner Poland and Baltic States, and over the past two years of
working in Switzerland he was responsible for HR strategy and planning for the
whole corporation with 88 thousand employees in total. 

Audronė Mažeikaitė, former Head of Communications at Omnitel, will become the
Head of Corporate Affairs. Her previous experience includes consulting of
companies operating in different fields in the Baltic States, Poland and Russia
on communications strategies, acquisition and merger communications as well as
crisis management. She worked as Corporate Affairs Officer at Leo LT and the
Head of Corporate Brand & Communication for Lithuania and Latvia at
telecommunications company Bitė. 

From 7 December 2015, the position of the Head of Legal Affairs will be taken
by Giedrė Kaminskaitė-Salters. Giedrė has gained her experience in the United
Kingdom, where she specialized in commercial energy law and worked at the
Department for International Development of the Government of the United
Kingdom and at the Office of Gas and Electricity Markets. Upon her return to
Lithuania, Giedrė worked as Senior Adviser to the President of the Republic of
Lithuania on economy. 

The position of the Head of Risk Management will be taken by Vytautas
Bučinskas, who currently is the Head of Risk Management Unit at Teo. Vytautas
has worked at Teo Group for a total of 20 years and has been the Director of
Sales Development Department, Process and Quality Management Department and
other units. Currently, Vytautas is also a member of the Cyber Security Council
of Lithuania. 

Mantas Goštautas, who joined Teo this year, will become the Head of Business
Development. The specialist, who has more than 10 years of experience of
working in business development and consulting, returned to Lithuania from the
United Kingdom, where he worked at global business consulting company Hodgart
Associates Ltd. Mantas started his career at audit company Ernst & Young, later
worked at telecommunications company Tele2, and other legal services and
business development consulting firms. 

“I am particularly pleased that the newly formed management team will be joined
by two new experts in their fields. N.Žioba, who has accumulated many years of
experience in the areas of retail, finance and telecommunications, will
strengthen the management team’s competence with his managerial experience
gained in complex organizations and situations. G.Kaminskaitė-Salters also has
long-term experience in change management and working in the regulated energy
sector and, in addition, she also has a great focus on business results”, -
K.Šliužas said. 




         Darius Džiaugys,
         Head of Investor Relations,
         tel. +370 5 236 7878