Marius Švaikauskas, CEO of the company, says the name change is linked to the organisation’s restructuring, which began in 2023 and continues this year.
In early 2023, the Lithuanian Road Administration became a public limited liability company, AB. Previously it was a state company.
According to the CEO, the new management team has led to structural changes, strengthened external and internal controls, rationalised financial planning, the development of strategic guidelines and the setting of strategic benchmarks for the company over the next three years
“We believe that the new name of the company will better reflect the company’s drive and ambition to continue the organisational changes that have been initiated, to increase the maturity of the organisation in the company, to concentrate and reinforce the competences in road engineering, and to ensure that the country's road network is consistently built up in a safe, sustainable and technologically advanced manner,” Švaikauskas is cited as saying in the press release.