Ignitis governance optimised: board with a supervisory function starts work

The Supervisory Board and the Management Board of the Ignitis Group, an integrated energy services company prioritising renewable energy, have decided to change the two-tier management model of its subsidiary Ignitis to a one-tier one, i.e., to abolish the executive board formed by employees and to form a board with a supervisory function, and have approved the composition of the new board.

The Board with a supervisory function of Ignitis, a smart energy solutions company, is composed of 5 members: 2 independent members, 2 shareholder representatives and 1 civil servant.

The following persons have been appointed as members of the Board of Ignitis:

• Paulius Dambrauskas (independent member) - for strategic planning and management;
• Roger Hunter (independent member) - for international business development;
• Toma Sasnauskienė (civil servant) – for financial management;
• Vidmantas Salietis (shareholder representative) – for energy supply (commercial activities);
• Mantas Mikalajūnas (shareholder representative) – for energy supply (regulated activities).

“I welcome the new Board as it begins its work. The new members of the Board with a supervisory function will ensure the smooth continuity of Ignitis’ work and the long-term objectives currently being implemented,” says Darius Maikštėnas, CEO of the Ignitis Group.

Paulius Dambrauskas, who has been appointed as an independent member of the Board for strategic planning and management, has extensive management experience in telecommunications, retail and logistics. Roger Hunter, who is taking up the position of an independent member for international business development, is currently Vice President of Shell’s EV Mobility business, responsible for Shell’s EV Charging Solutions worldwide. Toma Sasnauskienė, a civil servant, will be responsible for financial management in the Board. Having over 16 years of experience in the public sector, she has made a significant contribution to the development and improvement of the Treasury’s customer service capabilities for a wide range of financial instruments, from government securities and currency swaps to investment products and sovereign guarantees. Vidmantas Salietis, who is taking up the position of a member of the Board as a shareholder representative for energy supply (commercial activities), is a member of the Board of the Ignitis Group and Director for Commerce and Services. He gained managerial experience as Managing Director of Energijos Tiekimas. Prior to that, he headed the Wholesale Electricity Trading Department at Ignitis gamyba (formerly Lietuvos energijos gamyba). Another shareholder representative is Mantas Mikalajūnas, who is taking up the position of Member of the Board for energy supply (regulated activities). He is currently a member of the Board of the Ignitis Group and Head of the Group’s regulated activities. The shareholder representative is a 20-year veteran executive in various companies in the energy sector, with experience in both regulated and commercial business development, as well as stakeholder and regulatory relations and large project management.

The one-tier governance model will ensure simpler yet effective governance that continues to meet the highest standards of governance, rapid decision-making, responsive communication, and active involvement of independent members.

The change will further ensure transparency and openness of the Ignitis Group, timely and accurate disclosure of information about the Group and its subsidiaries, and accountability of management and supervisory bodies.