Žilvinas Kvedaravičius, NanoAvionics interim CEO. Photo: NanoAvionics

NanoAvionics co-founder Vytenis Buzas is stepping down from his role as CEO, the company announced Oct. 24. The company’s Chief Sales Officer Žilvinas Kvedaravičius will take over as interim CEO, with Buzas on the board. NanoAvionics, which is owned by Kongsberg Defence & Aerospace, said the move positions the company for its next phase of growth. Kvedaravičius has been with the company for seven years. 

NanoAvionics began as the first national satellite mission in Lithuania and has grown into a leading smallsat manufacturer, supporting more than 90 customers including NASA, European Space Agency, Thales Alenia Space, Aurora Insight, and OQ Technology. It is based in Lithuania and has operations in the United Kingdom and United States. 

“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.

In a recent interview with Via Satellite, Buzas said NanoAvionics is on the cusp of signing constellation contracts, a step up for the company in moving toward greater production and manufacturing output. 

This move comes after NanoAvionics was acquired by Norwegian defense firm Kongsberg in 2022. 

“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,” commented Harald Aarø, executive vice president for Space & Surveillance at Kongsberg.