Candidates for the Ignitis Group Supervisory Board have been announced

The Ministry of Finance, the majority shareholder of a renewables-focused integrated utility, Ignitis Group, selected new candidates for the Supervisory Board of the company, including four independent members and three civil servants.

The proposed candidates were selected based on their broad expertise in the energy and finance sectors, organisational development and digitalisation fields as well as their experience in international business companies. The candidates proposed by the Ministry of Finance still need to be approved by the company’s shareholders.

The proposed members of the Ignitis Group Supervisory Board are the following: Alfonso Faubel (renewables) and Tim Brooks (sustainability and ESG, including environment, health and safety), who have extensive international experience working in the energy sector and especially in the area of renewables, Lorraine Wrafter (organisational development), who is an experienced organisational development and human resources executive, and Sian Lloyd Rees (risk management), who has many years of international experience and extensive expertise in the fields of energy and digitalisation. These candidates also serve in the current Supervisory Board of Ignitis Group.

Experts from the Ministry of Finance, Aušra Vičkačkienė (public policy and governance) and Ingrida Muckutė (accounting and audit), who are serving in the current term of the Supervisory Board and have won the selection process, were proposed to be the civil servant representatives. Expert from the Office of the Government, Lina Liubauskaitė(regulation) has been proposed to be the new civil servant representative.

The Ignitis Group Supervisory Board will comprise nine members in total, six independent members and three civil servants. Background checks on the remaining two independent candidates are currently underway. The full composition of the Ignitis Group Supervisory Board is expected to be approved at the General Meeting of Shareholders on 24 October. The term of office of the current Supervisory Board ends on 25 October 2025.

Alfonso Faubel is an executive with 36 years’ experience in energy, digitalisation and automotive industries. During more than a decade, he gathered valuable experience in the energy sector, and especially in renewables, both onshore and offshore wind, while working at the leading global players in the market, such as Siemens Gamesa, Alstom/General Electric. Moreover, he launched businesses in 16 new markets (Italy, France, Spain, Mexico and other countries).

Lorraine Wrafter is an HR executive and an experienced organisational development professional with specialisations in organisation effectiveness and productivity, managing strategic changes, culture integration, talent management and leadership training. Wrafter has over 30 years of valuable experience in implementing organisational transformation programmes after M&As in big multinational corporations, such as HOLCIM, CARGILL Inc.

Tim Brooks gained over 20 years of experience in sustainable development working both as a consultant and in large corporations. He is currently working as the Chief Sustainability Officer at a global pharmacy and a FTSE 100 company, Hikma Pharmaceutical plc. Prior to this, he worked as Head of Sustainability and Vice President at the LEGO Group for 12 years and regularly contributed to the company’s risk and compliance boards. Brooks worked with KIRKBI, the parent company of LEGO Group, where he coordinated over USD 700 million in funding for renewable energy projects, resulting in the construction of two offshore wind farms and the delivery of building- and ground-mounted solar panels to power LEGO buildings.

Sian Lloyd Rees is a senior executive with over 17 years of international experience in the energy sector and more than 5 years of experience sitting in boards as well as remuneration, nomination, audit and sustainability committees. Rees was trusted with managerial positions in Aker ASA, Stena AB group and Halliburn Corporation. Under her leadership, strategic business transformation was implemented, transitioning from servicing oil and gas industry to offshore wind industry.  The candidate also has notable experience in implementing international development projects, managing changes and transforming organisations, creating and implementing strategies, taking on the responsibilities of digitalisation, initiating and supervising the implementation of ESG processes.  

Aušra Vičkačkienė has more than 20 years of experience in civil service. For more than a decade she has served as the Director of Asset Management Department of the Ministry of Finance. She previously worked in the fields of financial services regulation and government loan supervision. For many years, she has represented and continues to represent the Ministry of Finance on the boards or supervisory boards of several state-owned companies. In addition to this, Vičkačkienė has served on management boards of various state-owned companies, including Būsto Paskolų Draudimas, Turto Bankas and Viešųjų Investicijų Plėtros Agentūra. She was the Chair of the Management Board at the latter.

Ingrida Muckutė has been leading the Reporting, Audit, Business Valuation and Insolvency Policy Department since 2004. In 2013, during the Lithuanian Presidency of the European Council, she was chairing Company Law working group’s meetings on Audit Directive and Regulation. From then on, her responsibilities covered chairing national accounting standards committees for private and public sectors, active contribution to modernising the national systems of accounting, insolvency and property and business valuation through proposals of legal initiatives.

Lina Liubauskaitė has been working in the Office of the Government for over 27 years. For the past six years, she has headed the Economic Policy Group at the Office of the Government. Previously, she worked at the Office of the Government as Head of Budget and EU Structural Support Division and Head of Economic Progress Division at the Policy Analysis and Reform Department. In addition to this, Liubauskaitė served in collegial bodies of various state-owned companies, including Būsto Paskolų Draudimas, Viešųjų Investicijų Plėtros Agentūra, Žemės Ūkio Paskolų Garantijų Fondas and others.

The Supervisory Board is a collegial body of Ignitis Group, whose main responsibilities include supervising the activities of the company and its subsidiaries, approving the company’s strategy as well as analysing and supervising its implementation. Supervisory Board's term of office is four years.

Starting from the new term, the company's Supervisory Board will have two more members – six independent members and three civil servants (until now, the Supervisory Board consisted of five independent members and two employees of the Ministry of Finance). The changes in the composition of the Supervisory Board were made to ensure that it continues to meet the highest good corporate governance standards, to expand its competencies that are relevant to the company's activities and to implement strategic energy projects that are of national interest.

The selection of Supervisory Board members was subject to the Law on Equal Opportunities for Women and Men of the Republic of Lithuania. The international selection of independent members of the Ignitis Group Supervisory Board was carried out by a selection committee appointed by the Minister of Finance, with the support of UAB “Pedersen & Partners”, an agency specialising in executive and senior personnel scouting.  47 candidates participated in the selection.

Material event notification on the convening of the General Meeting of Shareholders can be found here: Notice of convening the General Meeting of Shareholders of AB “Ignitis grupė”