Ilze Jakubāne has been appointed as a board member of 'Neste Latvia', as reported by 'Firmas.lv'. She joins the current chairman Zigismunds Niedra and board member Inese Upmale in overseeing the company. This change in leadership was officially recorded in the corporate register on February 19. The appointment comes at a time when 'Neste Latvia' has seen a decline in both its revenue and profit for the year 2024, raising questions about the company's future strategies and performance under new board oversight.

'Neste Latvia' reported a revenue of 468.739 million euros in 2024, which reflects a 3.5% decrease from the previous year, and a significant profit drop of 45.5%, leaving it at only 5.8 million euros. The company was registered in 1993 and has a share capital of 15.03 million euros. Owned by Finnish company 'Neste', it is noteworthy that 'Neste Latvia' was the largest fuel retailer in Latvia in 2025 according to the State Revenue Service data. This new appointment could indicate a shift in strategies to address the recent downturn in financial performance and maintain its leadership position in the market.

The appointment of Jakubāne to the board may be seen as part of a broader restructuring effort within the company as it looks to regain stability and potentially improve operational performance. Stakeholders and analysts will be closely watching how the new board member navigates these challenges and what new initiatives may be introduced to enhance profitability and market share in the competitive fuel retail sector in Latvia.