Upon joining LFMI in 1996, Mr. Trumpa initiated and led the institute’s work on eliminating business constraints and reducing bureaucracy. Over time this initiative has grown into what is known today as a business deregulation programme and has garnered broad-based support from the public and government. In 2000 Sunset and Sunrise Commissions were set up to implement the said programme. Mr. Trumpa was invited to head a task force on improving business conditions.

Mr. Trumpa is also responsible for LFMI anti-corruption initiatives. He serves, on a voluntary basis, as advisor to the World Bank on anti-corruption issues. Mr. Trumpa holds a M.A. in philosophy from Moscow Lomonosov University and a diploma in economics from Vilnius University. Up till now he has served as LFMI vice president.

Ms. Leontjeva intends to revive a council of the Institute while dedicating most of her time to writing. She will also continue to contribute to LFMI’s most important endeavours.

Elena Leontjeva, a co-founder of LFMI eleven years ago, was elected LFMI president in 1993. Under Ms. Leontjeva’s guidance, LFMI led the creation of the legal and institutional foundation for the capital market, a currency board system enshrined in the Law on Litas Credibility and sound operational principles and financial disclosure of commercial banks. LFMI formulated a proposal for tax and budget reform that improved the official policy as well as prepared the basis for private pension insurance and the Law on Pension Funds. A profound impact was exerted on company, bankruptcy, competition and other legislation.

LFMI’s eleventh birthday anniversary and the appointment of the new president will be commemorated at a ceremony “The Free Market Cause Continues” at the Vilnius Town Hall. His Excellency President Valdas Adamkus will honour the event with his presence. Among the guests and speakers will be MPs Andrius Kubilius and Kęstutis Glaveckas, Utenos Trikotažas Director General Nijolė Dumbliauskienė and others.