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2023 03 13

Changes in the team of Novaturas: focus on data-driven organisation, financial management and technological progress

Novaturas Group, the largest tour operator in the Baltic States, announces changes in its management team. On 13 March, Vygantas Reifonas, who has many years of experience in this field, takes up the position of Chief Financial Officer (CFO) and joins the company’s management board. Arūnas Žilys, who has held this position until now, takes over the Head of Analytics of the Group in order to strengthen data integration in company’s operations and implement advanced pricing solutions.  

“Mr. Reifonas’s diverse experience, know-how and leadership skills will help us further develop our relationships with the investment community and shareholders, and ensure sustainable growth. Accordingly, Mr. Žilys’s contribution to the strengthening of analytical functions at the Group level will undoubtedly be significant in securing our competitive advantages. We aim to further increase the company’s value and profitability, and we are constantly looking for technological solutions to improve the customer experience and thus maintain our market leadership,” says Vitalij Rakovski, CEO of Novaturas Group. 

Mr. Rakovski adds that the recent changes in the management team of several divisions reflect the aim to encourage internal career development – to develop talents, to spot their strongest competences and to provide them with real opportunities to act as well as ensure team motivation.  
Vygantas Reifonas has more than 20 years of experience in financial  management, organisation development, risk management, etc. Mr. Reifonas has held the position of Chief Executive Officer of Baltic Mill, a Baltic grain processing group, and worked as CFO in the company. He also worked as Director of the Organisation Service of the Bank of Lithuania, Director of the Finance Department and Member of the Management Board of AB Lietuvos Draudimas. 

“I appreciate the opportunity to join the Novaturas team, which has managed the challenges of the pandemic and subsequently the consequences of the war in Ukraine that inevitably affected business. I am motivated by the company’s bold decision-making and the strong growth in customer numbers last year, even in the face of increasing competition. I believe that my experience in finance will ensure the efficient and sustainable operation of the Group and open up more opportunities to focus on new areas of profitable growth,” comments Vygantas Reifonas, the new CFO of Novaturas Group.  

Arūnas Žilys, who has taken over the position of Head of Analytics of Novaturas Group, says that the resilience, adaptability and sustainability demonstrated by the company over the past years allows it to move forward. One of the main objectives is to implement technology and data-driven solutions with increasing quality. 

“Strategically thought-out, efficient and technology-based pricing, and expedient responsiveness to customer expectations will strengthen our leadership, increase shareholder value, and improve the customer experience,” says Mr. Žilys.  

During his first year at Novaturas, Arūnas Žilys has focused on revenue and cost management and control, investor relations, financing management, as well as significantly strengthened his competences in pricing, business planning and analysis, which he will now apply to the management of the Analytics Department. 


About the company 
Novaturas Group is the largest tour operator in the Baltic States, offering summer and winter package holidays by plane to more than 30 destinations worldwide and more than 100 tours.