Olainfarm Group announced the appointment of a new executive

Today, the Supervisory Council of JSC Olainfarm approved Elena Bushberg as a member of the Management Board and CEO of Olainfarm, a part of Olainfarm Group of companies. Elena Bushberg brings over 25 years of international pharmaceutical experience to the Management Board in areas such as finance, supply & operations, marketing and sales in CIS countries, with engagement in creating, managing, and leading high performing teams and developing talent across multiple business areas.

In order for the company to achieve its future strategic goals, JSC Olainfarm Supervisory Council has improved the distribution of corporate governance functions: 1) the Chairman of the Management Board of JSC Olainfarm monitors the corporate governance of the Olainfarm Group of companies; 2) a member of the Olainfarm Management Board acts as the CEO of the largest enterprise of the Group JSC Olainfarm.

Last week Jeroen Waites was approved as the Chairman of the Management Board and CEO of the Olainfarm Group of companies and he is entrusted with the overall management and strategic development of the Olainfarm Group of companies as well as new market niche and sales market expansion. The Olainfarm Group of companies includes Olainfarm, Latvijas aptieka, Silvanols, Tonus Elast, DiaMed, OlainMed, NPK Biotest and Kiwi Cosmetics.

In addition, Elena Bushberg has been appointed as a member of the Management Board and CEO of JSC Olainfarm, the main business entity in the Olainfarm Group of companies, her primary focus will include leading the transformation of business processes at JSC Olainfarm and its existing affiliates to raise productivity and effectiveness of manufacturing, as well as sales and marketing operations in order to achieve sustainable organic growth ahead of the curve.

Chairman of the Supervisory Council of JSC Olainfarm Gundars Bērziņš emphasizes: “We have succeeded in fusing two competencies that are very important for the company – knowledge of pharmaceutical business in both the European Union and CIS markets, which will provide the company with the necessary additional capacity for development. We are proud to have such experienced professionals join the Olainfarm team. During the senior management selection process, we highly valued Elena Bushberg's global view on the development of the pharmaceutical industry, marketing experience, knowledge of the specifics of the CIS markets, and expertise in managing operations and building strong sales teams. ”

Elena Bushberg, a member of the Board and CEO of JSC Olainfarm: “Olainfarm is a strong international brand, well respected not only in Latvia but also worldwide, especially in the markets I have specialized in. I am excited to join JSC Olainfarm in order to bring fresh and insightful industry perspectives as well as deliver added value to the company. JSC Olainfarm has a lot of untapped business potential and the grounds for  becoming a true Baltic pharmaceutical champion. I am honored to be a part of the leadership team creating the next chapter in the JSC Olainfarm success story.

Elena Bushberg's professional experience adds up to over 25 years at international pharmaceutical companies such as Schering-Plough, MSD and Abbott Laboratories. Since 2015 E. Bushberg has served as the General Manager of Abbott’s Veropharm, one of Russia's leading manufacturers of pharmaceuticals and medical devices. While in this position (during the time period of 2015-2019) E. Bushberg was responsible for developing and implementing the corporate strategy, leading organizational transformation and building a winning mind-set and culture in order to raise the efficiency of business operations, thus delivering sustainable organic and inorganic growth in sales and profits. Elena Bushberg holds a professional master's degree (Global Executive MBA) and a Certificate in Healthcare Sector Management from The Fuqua School of Business, Duke University, USA.

Elena Bushberg does not own any shares at JSC Olainfarm or any other companies. E. Bushberg will start her actual employment at the company as soon as she has received the necessary formalities for employment in Latvia.

Jeroen Weites, Lauris Macijevskis, Raimonds Terentjevs, Signe Baldere-Sildedze, Milana Beļeviča and Mārtiņš Puriņš remain on the Management Board of the JSC Olainfarm.

JSC Olainfarm is one of the largest companies in the Baltic States with more than 45 years of experience in production of pharmaceuticals and chemical and pharmaceutical products. The basic principle of the company is to produce reliable and effective top quality products for Latvia and the whole world. Currently, JSC Olainfarm products are exported to more than 60 countries worldwide, including the Baltic States, Russia, other CIS countries, Europe, North America, Asia and Australia.

Additional information:  
Jānis Dubrovskis
Investor Relations Advisor of JSC Olainfarm
Phone: +371 29178878
Email: janis.dubrovskis@olainfarm.com

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