Mapon, one of Northern Europe’s leading fleet management solution providers, has appointed board member Davis Siksnans as the company’s CEO.

L-R: Mapon’s chief sales officer Andris Dzudzilo, CEO Davis Siksnans and CTO Ingus Ruķis

Former co-CEOs Ingus Rukis and Andris Dzudzilo will continue to serve on the Mapon board and management team as chief technology officer and chief sales officer, respectively.

Siksnans said: “It has been a pleasure to witness Mapon’s revenue grow sixfold over the past eight years under the leadership of Ingus Rukis and Andris Dzudzilo, establishing the company as a leading provider of fleet management and tracking solutions in Northern Europe. The transportation and logistics industry is rapidly digitising worldwide, and I believe Mapon has the necessary elements to become the European market leader.”

In addition to his new role as CEO of Mapon, Siksnans will continue to lead the investment company Draugiem Capital. He has been with Draugiem Group, a Latvian technology startup factory, for 15 years, of which he spent 10 as the CEO and co-founder of Latvian ‘unicorn’, Printful.

Ingus Rukis, Mapon’s chief technology officer, said: “Together with Andris, we have led Mapon for eight years and have significantly expanded the company’s market share. We need a leader with experience securing substantial investments to guide the company through its next development phase. Davis has already been actively involved in driving various strategic initiatives as a member of the Mapon board for the past two years, and we are pleased that he will now take on the responsibilities of a CEO.”

Mapon’s chief financial officer Aleksei Avanessov, who oversees the company’s financial matters and acquisitions, and Edmunds Riekstins, who supervises all Draugiem Group companies, will continue to serve on the Mapon board.

Earlier this year, Mapon attracted private and institutional investors, securing €3m in bond investments to finance acquisition deals and further expand its operations in Europe. The company plans to list the bonds on the Nasdaq Riga First North multilateral trading facility in the coming months.