Zilvinas Dubosas Appointed New CEO of Baltik Vairas
SIAULIAI, Lithuania – After managing the restructuring of Baltik Vairas for one and a half year, CEO Peter Jensby returned to Denmark. His position was handed over to Zilvinas Dubosas as of September 1 this year.
Dubosas was already closely involved in Baltik Vairas as COO and as such part of the management team who reorganized the bicycle manufacturer.
Appointed by the Danish investor Niels Peter Preztmann and the Lithuanian capital fund LIT Capital, Peter Jensby’s target was, “to transform Baltik Vairas into a mid to high-end bicycle and e-bike manufacturer,” as he stated in an interview it Bike Europe’s July edition.
Turnaround is on track
“What I found when I started one and a half years ago was a high quality production facility creating poor financial results thanks to an old production style using too much manual labour and no IT or LEAN technology at all,” Jensby explained. “The turnaround is on track and Baltik Vairas is becoming a sustainable company.”
Peter Jensby will stay involved in the bicycle industry as he joined the board of Bike2, a Danish e-bike start-up.