Krepsta becomes the board's fifth member, filling in a vacant place.

He will be replaced as chief presidential adviser on the economic and social policy issued by the president's incumbent adviser on social issues Irena Segaloviciene, the presidential office said on Monday.

Krepsta has advised the president for the past two years, having previously served in various positions within the Bank of Lithuania for over a decade.

The Board of the Bank of Lithuania has 5 eats, yet currently includes 4 members: Gediminas Simkus, board chairman, Asta Kuniyoshi and Raimondas Kuodis, deputy boardchairs, and Marius Jurgilas, a member of the board.

Pursuant to the Republic of Lithuania Law on the Bank of Lithuania, deputy chairs and members of the Board are appointed for a six-year term by the president of the Republic of Lithuania upon nomination by the chairman of the Bank of Lithuania.