Supervisory bodies
The Supervisory Board is the Ignitis Group's collegial supervisory body, elected by the General Meeting of Shareholders for a four-year term. It establishes committees to ensure the efficient performance of its functions and duties
Supervisory Board
In accordance with the Corporate Governance Guidelines, the Supervisory Board is a collegial supervisory body envisaged in the Company’s Articles of Association, which is elected by the General Meeting of Shareholders for a term of four years.
The Supervisory Board of Ignitis Group consists of 7 members: 2 members representing the Ministry of Finance and 5 independent members. The chair shall be elected by the Supervisory Board from among its members. This model of formation of the Supervisory Board is in line with the principles of corporate governance.
The main functions and responsibilities of the Supervisory Board include consideration and approval of the operational strategy of the Company and Group companies, analysis and assessment of information regarding the implementation of the operational strategy, submission of that information to the Ordinary General Meeting of Shareholders, election and removal of members of the Management Board, supervision of the activities of the Management Board and the CEO, and submission of comments to the General Meeting of Shareholders regarding a set of financial statements, profit (loss) distribution, and the annual report. The Supervisory Board also addresses other matters within its competence. It functions at the level of the entire Group, i.e., as needed, it addresses issues related not only to the activities of the Company but also to the activities of its subsidiaries or their management or supervisory bodies.
No members of the Supervisory Board have any participation in the capital of the Company or of Group companies.
The term of Ignitis Group’s current Supervisory Board ends on 25 October 2025.
Rules of procedure of the Supervisory Board
Profile of AB “Ignitis grupė” Supervisory Board’s competencies
Committees
In order to effectively carry out its functions and duties, the Supervisory Board of Ignitis Group forms committees. Within their competence, the committees provide conclusions, opinions and proposals to the Supervisory Board. A committee must have at least three members, of which at least one must be a member of the Supervisory Board and at least one must be an independent member.
Committee members are elected for a term of four years.
The following Supervisory Board committees are formed at Ignitis Group:
The Risk Management and Sustainability Committee
Committee is responsible for submitting conclusions and/or proposals to the Supervisory Board on the functioning of the management and internal control system, key risk factors and the status of implementation of risk management measures within the Group. It also supervises sustainability management, compliance with ethical business practices, monitors the control of corruption risks and makes recommendations to the Supervisory Board as needed.
Regulations of the Risk Management and Sustainability Committee
The Nomination and Remuneration Committee
Committee is responsible for assessing candidates for members of the management and supervisory bodies and senior management of Group companies, for submitting conclusions or proposals to the Supervisory Board, for implementing measures to ensure the continuity of the activities of the management and supervisory bodies, and for assessing the structure, size, composition and performance of the management and supervisory bodies of Group companies. The committee’s functions also include monitoring the compliance of the remuneration policy of Group companies with international practices and good governance recommendations, submitting proposals for the improvement of the remuneration policy, etc.
Regulations of the Nomination and Remuneration Committee
Committees’ functions are described in more detail in the Company’s annual reports. When needed, other committees may also be formed on an ad hoc basis (for example, to address special issues or to develop, supervise or coordinate strategic projects).
Supervisory Board
Alfonso Faubel
Alfonso has held executive responsibilities in Siemens Gamesa, Alstom/GE (which are leading players in the global wind power...
Tim Brooks
Tim is a senior executive with more than 20 years of experience in sustainable development both as a consultant, and in large...
Judith Buss
Ingrida Muckutė
Ingrida is a highly experienced accounting and reporting, financial audit regulation professional since 2004 working...
Aušra Vičkačkienė
Aušra has more than 20 years of experience in civil service. For the last 14 years she has been the Director of Asset Management Department...
Lorraine Wrafter
Lorraine is a global HR director with a specialisation in Organisation Effectiveness (change, culture, M&A, organisation design...
The Risk Management and Sustainability Committee
Tim Brooks
Tim is a senior executive with more than 20 years of experience in sustainable development both as a consultant, and in large corporate entities...
Alfonso Faubel
Alfonso has held executive responsibilities in Siemens Gamesa, Alstom/GE (which are leading players in the global wind power & energy markets)...
Ana Riva
Ana has more than 20 years of experience in international companies and consulting firms, including Nouryon, Grundfos and Big4...
Wolf Willems
Wolf has over 27 years of experience in the areas of sustainability, health and safety management, security and environmental affairs. During his career...
Nomination and Remuneration Committee
Lorraine Wrafter
Lorraine is a global HR director with a specialisation in Organisation Effectiveness (change, culture, M&A, organisation design...
Aušra Vičkačkienė
Aušra has more than 20 years of experience in civil service. For the last 14 years she has been the Director of Asset Management Department...
