Pharma company Olainfarm gets new boss

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Olainfarm executive director and board member Olegs Grigorjevs has been appointed the new board chairman of the company, the company said in a statement to the Nasdaq Riga stock exchange on December 19.

At the same time, Raimonds Terentjevs was appointed the new board member of Olainfarm. This decision will take effect after the Enterprise Register registers the changes to the board.

Grigorjevs joined Olainfarm in 2001 and for many years was the Director of Commerce. Prior to that Grigorjevs was working in companies Grif (2000-2001) and Aroma (1996-2000). He owns 1,000 shares in Olainfarm.

Terentjevs is a director of Department of Quality Management of Olainfarm. He joined Olainfarm in 2011, after he left his position of researcher in Latvian Institute of Organic Synthesis. He owns no shares in Olainfarm.

Other board members are Salvis Lapins, Martins Tambaks, Mihails Raizbergs, Veranika Dubitskaya and Vladimirs Krusinskis.

As reported, Valerijs Maligins, 52, passed away on December 9. Maligins, who is the largest shareholder in Olainfarm, became the chairman of the management board after the privatization of the company in 1997. Under his management, the company became one of the most valuable companies in Latvia reaching the level of EUR 100 million in revenues and selling its products to more than 50 countries, Olainfarm representatives said.

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