2021

Roberts Strīpnieks, the Long-term Head of JSC “Latvia’s State Forests”, has Accepted New Professional Challenges

Roberts Strīpnieks, Chairman of the Board of JSC “Latvia's State Forests” (LVM), has decided to leave the position of the company's manager on 30 December this year to take on new professional tasks in the private sector. At the end of this year, the LVM Supervisory Board will decide on the appointment of the Chairman of the Board from among the other members of the Board at an extraordinary meeting, later organizing a competition for this position. The LVM Supervisory Board expresses its gratitude to Roberts Strīpnieks for his invaluable contribution to the long-term growth of the company, making LVM one of the leaders in the entire Latvian economy, which has also achieved a significant position in the European forestry sector.

Roberts Strīpnieks has been the Chairman of the Board of LVM since the establishment of the company back in October 1999, holding this position for more than twenty years. Under the leadership of Strīpnieks' team, the scale of LVM's operations has grown more than tenfold – from a turnover of 24 million euros in 2000 to 349 million last year. Over the last twenty years, the company has paid 1.35 billion euros as taxes and dividends to the State budget.

“After twenty years at LVM, I have been considering new job opportunities in the private sector, and now I have received an offer of a management position at a large, private company with a branched activity and a wide range of future potential.

This was a very difficult decision for me, as most of my professional life is related to LVM. However, this is also the right time for change, because we have achieved a lot and a solid foundation has been laid for a new phase of growth. Along with the growth of LVM and the industry, my and my team's priorities have always been the sustainability of Latvia's forests and environment and the involvement of society in learning about the forest, preserving and enhancing natural values. In the professional community, we tried to bring the highest quality requirements to life; we helped the people of Latvia to develop a deeper understanding of the forest, the diversity of nature and the opportunities that Latvian nature can give each of us. I hope I succeeded.

I would like to thank my colleagues, each of more than a thousand LVM employees, the company's shareholder, partners, customers and the Latvian public for the support you have given to make LVM a success story for Latvia,” says Roberts Strīpnieks, Chairman of the Board of LVM.

“On behalf of the Ministry of Agriculture, I would like to express my gratitude to Mr. Strīpnieks, whose knowledge, perseverance and experience have made JSC “Latvia’s State Forests” one of the leading companies in the country. Under the leadership of Roberts Strīpnieks, LVM gained excellent stability. This is a sustainable result that the LVM team will continue,” said Minister of Agriculture Kaspars Gerhards.

“It will not be easy to find an equivalent replacement for Mr. Strīpnieks and therefore we will do it thoughtfully, in a wide competition. LVM is a company of systemic significance to the Latvian economy and under the leadership of Roberts Strīpnieks it has set standards for the operation and quality of the entire industry, ensuring that the products of both LVM and other Latvian foresters are competitive and in demand in export markets. Strīpnieks' approach to the development of LVM has always been strategically balanced, at the same time achieving high profitability and making large investments, which are directed to reforestation, research, and improvement of forestry infrastructure every year.

Also, for many years, LVM has been one of the examples of good governance not only among State-owned companies, but also in Latvian business in general. On behalf of the company's supervisory board and shareholder, I would like to express my deepest gratitude to Mr. Strīpnieks for his decades-long investment and wish him success in his future career,” says Edmunds Beļskis, Chairman of LVM Supervisory Board.

Roberts Strīpnieks graduated from the Latvian Academy of Agriculture with a professional master's degree in forestry with the qualification of a forest engineer. Prior to joining LVM, Strīpnieks was an advisor to the Minister of Agriculture, Head of the Development, Support, and Information Unit of the State Forest Service, as well as a consultant and manager at various private and public institutions. Strīpnieks started his professional career as a forester.

In the Top101.lv list of the most valuable companies in Latvia, offered by the investment company Prudentia and the stock exchange NASDAQ Riga, LVM has been ranked as the second most valuable company in Latvia (after Latvenergo) with a total value of 1.46 billion euros, which is 26% more than in 2020.

With a Cabinet order, Joint Stock Company “Latvia’s State Forests” (LVM) was established back in October 1999. LVM's core business is forestry, which is the company's main source of revenue. In addition to forestry, LVM provides hunting and recreation services, produces selected seeds and seedlings, and offers subterranean resources such as sand, gravel, peat on the market.

LVM manages and administers 1.62 million ha of land of the Republic of Latvia, including 1.60 million hectares of forest land, of which 1.39 million hectares are covered by forest. LVM implements national interests in forest management, ensuring preservation and enhancement of the forest value and generating the maximum possible income for its owner – the State. LVM is a founder and an active member of the European State Forest Association (EUSTAFOR).

For more information:

Tomass Kotovičs

JSC “Latvia’s State Forests”

Head of Communication Unit