Published: 2021-08-31 08:54:31 CEST
MADARA Cosmetics
Chang. board/management/certified advisors

AS MADARA Cosmetics Notice of Changes in the Management Board

Inside information, 2021-08-31 08:54 CEST -- Taking into account Management Board member’s Paula Tisenkopfa resignation notice from the AS MADARA Cosmetics Management Board due to personal reasons, the Supervisory Board of the Company resolved to take note of the current Management Board member P. Tisenkopfa’s notice of resignation from the Management Board member position and approved Tatjana Čornija, the Company’s CFO, as a member of the Management Board. Changes in the Management Board were registered in the Enterprise Register on August 30, 2021.

T. Čornija is a graduate of the Stockholm School of Economics in Riga, business analyst at MADARA Cosmetics from May, 2018 to December 2020, and the Chief Financial Officer of AS MADARA Cosmetics since January 2021.

T. Čornija is a minority shareholder of AS MADARA Cosmetics, Tatjana owns 165 shares.

Lote Tisenkopfa-Iltnere, Chairman of the Board, and Uldis Iltners, Member of the Board, continue their duties as the Management Board members.


The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.

MADARA Cosmetics was founded in 2006 and has become one of the leading manufacturers of cosmetics in Northern Europe and the leader in Latvia. The cosmetics brand MÁDARA represented by the company is a pioneer in the segment of natural beauty care and make-up cosmetics in Latvia. In 2016 and in 2017, the company ranked in the Top 10 of the Most Reputable Companies of Latvia. At the beginning of 2017, the limited liability company was transformed to a joint-stock company. Since November 2017, the company’s shares have been listed on the “Nasdaq Baltic” alternative market “First North”. The company has been awarded the European “Role Model” award of the “SME Star Awards 2018” organised by the European Parliament in Brussels for small and medium companies. In 2019, the company received the Excellence Award at Nasdaq Baltic Award 2019 and is one of the companies that rings the bell of the trading session on the Nasdaq Stock Exchange in New York. At the end of 2020, the idea of AS MADARA Cosmetics gained worldwide recognition and won the World Intellectual Property Organization (WIPO) award WIPO IP Enterprise Trophy. For more information, visit

         Contact information:
         Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
         Contact person: Uldis Iltners, member of the Management Board
         Phone: +371 67 470 243
         Certified advisor:
         AS “LHV Pank”
         Contact person: Ivars Bergmanis
         Phone: +372 680 2720