Kongsberg NanoAvionics (NanoAvionics) has announced that Vytenis J. Buzas has stepped down from his role as CEO. As the company transitions into its next development phase, both Buzas and the board of directors believe this is the correct moment for a leadership shift to ensure sustained success. Appointed to this leadership role is Žilvinas Kvedaravičius.
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 commercialized its technology and secured a market-leading position in the smallsat field.
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 on 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.
In 2022 NanoAvionics was acquired by Kongsberg Defence & Aerospace as part of its strategy to grow the company’s space business. The two companies have complementary technology and positions in the space value chain. NanoAvionics is a leader in the Smallsat segment as a mission integrator and bus manufacturer, while Kongsberg Defence & Aerospace is an established provider of spacecraft subsystems, and through Kongsberg Satellite Services, the world-leading supplier of satellite ground stations for downloading and processing satellite data. Kongsberg Defence & Aerospace is a part of Kongsberg Gruppen ASA, a technology and industry group with 2022 revenue of NOK31.8 billion (2.7 billion euros).
“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.” — Vytenis J. Buzas.
“Kongsberg NanoAvionics is trailblazing the standards for smallsat mission performance and reliability. We at Kongsberg Defence & Aerospace fully support this management transition and have confidence in Žilvinas to lead the company into the next phase of operational excellence.” — Harald Aarø, Member of the NanoAvionics board and Executive Vice President for Space & Surveillance at Kongsberg Defence & Aerospace