Andrjus Šemeškevičs has resigned from his position on the board of the telecommunications and technology company 'Tet' as of February 26, following his own wishes.
Andrjus Šemeškevičs has resigned from the board of SIA 'Tet', a telecommunications and technology company in Latvia, effective February 26. The resignation was confirmed by information from 'Firmas.lv' and noted that it was a decision made by Šemeškevičs himself. His departure is notable due to the significant role he has played in the company's strategic decisions.
'Tet' has reported notable financial growth, with preliminary data indicating a turnover of over 301.9 million euros last year and an increase in profit by more than 12%, exceeding 20 million euros. In 2024, 'Tet' is projected to maintain this positive trend with a forecasted turnover of 321.365 million euros and a profit increase of 63.2%, although the company's operating revenues have seen a decline of 1% compared to the previous year.
In terms of ownership, 'Tet' is predominantly owned by the state through SIA 'Publisko aktīvu pārvaldītājs “Possessor”' (51%) and a subsidiary of the telecommunications company 'Telia Company', emphasizing its importance within the national economy and telecommunications sector. The impact of Šemeškevičs' departure on future strategies and operations remains to be seen, particularly in light of the company's ambitious growth objectives.
