Teimuraz Ugulava, founder of Aviator Studio, Adjara Group, and Setanta Holding, has passed away at the age of 56 following a long illness.
A statement from Aviator Studio said that he died surrounded by his family and children.
Many believe Ugulava was one of the key figures behind a number of Georgia’s largest companies through his creations including Aviator Studio, Adjara Group and Setanta Holding. He created innovative, growing and entrepreneurially visionary companies.
The company’s statement said he was “more than just a founder,” but rather a visionary entrepreneur who created great businesses and communities of talented people based on a common purpose and shared values through his commitment, courage and belief in bold ideas.
The company stated in a recent LinkedIn post:
We remain fully committed to continuing the journey he began, protecting what he created, and carrying forward his vision with the same passion, resilience, and determination that defined him.
The company continues to be fully committed to fulfilling its founder’s mission and preserving the legacy created through his work over many years.
The statement added that Ugulava’s legacy would continue to live on through the companies he founded and the people whose lives he impacted through his leadership, generosity and vision.