{"id":8962,"date":"2026-02-03T10:00:47","date_gmt":"2026-02-03T08:00:47","guid":{"rendered":"https:\/\/rytasvilnius.lt\/en\/?p=8962"},"modified":"2026-02-03T10:03:12","modified_gmt":"2026-02-03T08:03:12","slug":"rytas-vilnius-updates-its-organizational-structure-and-seeks-a-new-strategic-investor","status":"publish","type":"post","link":"https:\/\/rytasvilnius.lt\/en\/news\/rytas-vilnius-updates-its-organizational-structure-and-seeks-a-new-strategic-investor\/","title":{"rendered":"Rytas Vilnius updates its organizational structure and seeks a new strategic investor"},"content":{"rendered":"<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">At the Rytas basketball club shareholders&#8217; meeting held last week, several important objectives were set: to attract a new strategic investor and to strengthen the organization. These changes are essential for rapid growth on an international level and to bid for participation in the operation of the newly developed Multipurpose Sports Complex in \u0160e\u0161kin\u0117. During the meeting, an updated organizational structure was approved, which included the establishment of a General Director position. This role will be filled by Martynas Giga, an experienced executive and corporate board member.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">&#8220;It is a great honor for me to join not only the management of the city\u2019s representative team but also the implementation of the Multipurpose Complex. I believe that Rytas, as the city&#8217;s representative team, should become more than just a tenant of the arena; it should be a full-fledged shareholder in the operating company of the multipurpose complex. From a professional standpoint, an inspiring challenge awaits me\u2014one that I believe all Vilnius residents are rooting for. We will also strive to ensure that, together with a new strategic investor, significantly greater opportunities will open up for the club to achieve the highest international results and to build an even larger, more active community of fans in Vilnius,&#8221; says Martynas Giga.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The newly appointed General Director, Martynas Giga, previously spent more than 10 years as the CEO and Chairman of the Board of the energy company Elektrum Lietuva. He has also served as an independent board member for various other companies. M. Giga holds a degree in business administration from the USA and later completed the BMI Executive MBA program.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">M. Giga will primarily focus on strategic long-term goals, while the current head of Rytas Vilnius, Jaroslav Latu\u0161inskij, will continue to lead the organization&#8217;s daily operations.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">&#8220;Rytas Vilnius as an organization has been growing purposefully for many years. It seems like only recently the club faced massive debts and there were many questions regarding its future. However, step by step, we grew stronger and proved to everyone that we can be a stable, reliable and, most importantly, winning organization. To reach an even higher level, Rytas must become the master of its own sports infrastructure, which requires both additional investment and organizational strengthening. Therefore, the decisions made today are the key to the organization&#8217;s further progress,&#8221; says Darius Gudelis, Chairman of the Board of Rytas Vilnius. He will continue to represent the team in international organizations.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The Director of Rytas, Jaroslav Latu\u0161inskij, also welcomes the expansion of the organization:<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">&#8220;Our organization&#8217;s maturity is reflected in our constant drive to improve. We are able to set ambitious yet realistic goals for ourselves. Participating in the operation of the future Multipurpose Complex is the primary prerequisite for our further success. However, to practically achieve this goal, we must strengthen as a club. The addition of M. Giga\u2014a true professional in organizational management and a massive Rytas fan\u2014along with the opportunity to attract a strategic investor, is a natural and vital part of the club\u2019s evolution,&#8221; says Rytas Vilnius Director Jaroslav Latu\u0161inskij.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">In order to attract a new strategic investor, two options are being considered: the possibility for current shareholders to sell their existing shares, or the issuance of new shares to expand the shareholder structure. If additional shares are issued, existing shareholders would have the right of first refusal to acquire them.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the Rytas basketball club shareholders&#8217; meeting held last week, several important objectives were set: to attract a new strategic investor and to strengthen the organization. These changes are essential for rapid growth on an international level and to bid for participation in the operation of the newly developed Multipurpose Sports Complex in \u0160e\u0161kin\u0117. During [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,57],"tags":[],"class_list":["post-8962","post","type-post","status-publish","format-standard","hentry","category-rytas","category-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rytas Vilnius updates its organizational structure and seeks a new strategic investor - Vilniaus \u201eRYTAS\u201c<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rytasvilnius.lt\/en\/news\/rytas-vilnius-updates-its-organizational-structure-and-seeks-a-new-strategic-investor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rytas Vilnius updates its organizational structure and seeks a new strategic investor - Vilniaus \u201eRYTAS\u201c\" \/>\n<meta property=\"og:description\" content=\"At the Rytas basketball club shareholders&#8217; meeting held last week, several important objectives were set: to attract a new strategic investor and to strengthen the organization. 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