Amidst its ongoing transformative growth and market leadership, Kongsberg NanoAvionics (NanoAvionics) announces that Vytenis J. Buzas has stepped down from his role of CEO.
As the company transitions into its next development phase, both Buzas and the board of directors believe this is the right moment for a leadership shift to ensure sustained success.
Under Buzas' stewardship, NanoAvionics achieved remarkable success. Originating as the first national satellite mission in Lithuania, the core mission team has, in under a decade, successfully commercialised its technology and secured a market-leading position in the small satellite field.
"I am immensely proud of what we've accomplished together at NanoAvionics. As we usher in the next era of small satellite technology, I am confident that the company is on the right trajectory and in capable hands," said Vytenis J. Buzas.
Buzas will maintain his involvement with NanoAvionics, serving as a member of the board.
Žilvinas Kvedaravičius, previously the Chief Sales Officer and a pivotal figure in the company's growth over the past seven years, takes the role of Interim CEO. Equipped with an in-depth comprehension of the company's technology and having fostered strong global stakeholder relationships, Kvedaravičius is ideally positioned to advance the company's vision.
As Kongsberg NanoAvionics gears up to propel New Space through its technological and organisational evolution, its strategic direction is clear: further standardisation of satellite platforms, improving satellite time to orbit and duration in orbit, and emphasising the organisation's operational excellence for the most demanding small satellite missions and customers. With the industry's largest standard satellite platform portfolio, boasting 25 configurations and a proven track record, the company is primed to elevate small satellite mission performance and its customers’ business cases to the next phase of the New Space era.
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