Dargužaitė will on Tuesday take over as CEO from Michael Schonach, who will continue to chair the group's Investment Committee, Northern Horizon said in a press release.

Dargužaitė stepped down as government chancellor last November.

Before her appointment to the government post in late 2016, Dargužaitė was a member of the management board at Northern Horizon Capital (NHC). She headed Barclays Technology Centre Lithuania between March and December 2015.

Dargužaitė in February 2014 stepped down as managing director of the government's foreign investment promotion agency Invest Lithuania, citing differences in views with the government as the reason.