The recent resignations of Kuzmins and Dubrovskis have resulted in a reduced board of directors for 'Latvijas Valsts mežu' (LVM), which now consists of only two members, Jānis Krūmiņš and Inga Vagele. This change follows amendments made during an extraordinary shareholders meeting held on February 6 of this year, which decreased the number of board members from five to three.

The Ministry of Agriculture of Latvia had requested this reduction in board size as part of an initiative to streamline management efficiency within the company. According to the ministry, a smaller board would enable the leaders to respond more effectively to the fluctuating market conditions in the forestry and wood processing sectors both domestically and internationally. It is also seen as a way to reduce management expenses of the state-owned enterprise, ensuring clearer accountability among board members.

This decision is part of a broader strategy to improve corporate governance within LVM, which plays a crucial role in managing Latvia’s forest resources. As the company prepares for future challenges in a competitive market, the restructuring aims to enhance operational responsiveness and financial oversight, reflecting a trend towards leaner corporate structures in the public sector.