Stefan Jugels has stepped down from his position as CEO of 'Valmiera Glass Fiber', a decision that the company announced, expressing gratitude for his leadership and contributions over the years. Under Jugels' management, the company had developed long-term growth opportunities, indicating his significant role in shaping the firm’s strategy and operations.

The appointment of Bogdans Ožehovskis as the new CEO is seen as a strategic move, as Ožehovskis brings extensive experience in the industrial sector with a track record of enhancing operational efficiency and facilitating strategic growth. This transition is expected to steer the company towards addressing current challenges and leading it into the future more effectively.

Financial data from 'Lursoft' highlights that 'Valmiera Glass Fiber' achieved a turnover of 120.09 million euros in 2024, which marked a 1.9% increase compared to the previous year. However, the company reported losses of 2.76 million euros in the same year, contrasting with a profit of 1.4 million euros from the previous year, underscoring the difficulties faced under the former leadership. This leadership change comes at a critical juncture for the company as it seeks to enhance its profitability and address the competitive landscape.