LITHUANIA

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LITHUANIAN STRUCTURE

Choose the type of company you are changing board member in

Pursuant to the Lithuanian Law on Companies, a Public Limited Liability Company must have one of the following organizational structures:

  1. A Managing Director (in Lithuanian: “vadovas”) and an Executive Board (in Lithuanian: “valdyba”).
  2. A Managing Director and a Supervisory Board (in Lithuanian: “stebėtojų taryba”).
  3. A Managing Director, an Executive Board and a Supervisory Board.

Please see, respectively, “Managing Director”, “Executive Board” and “Supervisory Board” below for a more in-depth description of each board type, including how to change the respective board members.


For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Lithuania on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Lithuania.

Pursuant to the Lithuanian Law on Companies, a Private Limited Liability Company must have one of the following organizational structures:

  1. A Managing Director (in Lithuanian: “vadovas”) only.
  2. A Managing Director and an Executive Board (in Lithuanian: “valdyba”).
  3. A Managing Director and a Supervisory Board (in Lithuanian: “stebėtojų taryba”).
  4. A Managing Director, an Executive Board and a Supervisory Board.

Please see, respectively, “Managing Director”, “Executive Board” and “Supervisory Board” below for a more in-depth description of each board type, including how to change the respective board members.


For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Lithuania on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Lithuania.

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COBALT has provided all input about changing board members in Lithuania and Latvia.

COBALT is the new closely integrated legal services alliance formed by Raidla Lejins & Norcous offices in Lithuania and Latvia, LAWIN office in Estonia and a newly established law office in Belarus. COBALT is a recognized legal advisor in domestic and cross-border acquisitions, disposals, mergers, de-mergers, private equity and venture capital investments, joint ventures, shareholder buyouts, LBOs and MBOs, share buybacks.

For more information about COBALT and changing board members in Lithuania, please contact our Partner directly.

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