The Latvian incumbent telco Tet has dismissed Juris Gulbis from the position of chairman of the board and CEO, effective December 4.
In a statement, the company says that its shareholders’ meeting decided Gulbis and the director of legal affairs maintain its confidence following the findings of an international independent investigation company. This uncovered no evidence of misconduct in a tender for the introduction of DTT 12 years ago and the subsequent contracting of infrastructure providers.
However, it was still decided to dismiss Gulbis as “the Tet Council and the representatives of the participants are aware that the fact of making accusations unfortunately casts a shadow over the company’s impeccable reputation and poses long-term reputational risks to the company and future value”.
Gulbis said: “I would like to thank the shareholders for their trust in 14 years and the team of Tet employees for what they have done together. I am pleased with what I have done – I left a modern, efficient company that pays taxes to the state, employs its employees during the crisis and paid hundreds of millions in dividends to shareholders, including the state of Latvia. This year, Tet has been recognized as the eighth most valuable company in Latvia and the fourth most valuable with a share of state capital. I hope that the company will continue to maintain the same high level of efficiency”.
The Tet Council will shortly launch a selection procedure for the Tet board chairman and CEO. In the meanwhile, Uldis Tatarcuks, CTO, has been appointed chairman of the board and acting CEO.
