“Lietuvos energija” Announces Selection of Board Members and CEO

Today the Appointment and Remuneration Committee formed by the “Lietuvos energija” Supervisory Board announced  selection of the new Board members and CEO of the company. The transparency of selection process will be ensured by a number of public selection actions.

 

The most suitable candidates will be selected by the Appointment and Remuneration Committee that has outsourced an executive recruiting company Pedersen & Partners in order to ensure a professional, transparent, and impartial selection procedure. Later, the company’s Appointment and Remuneration Committee will submit an opinion to the Supervisory Council regarding candidates for Board members and CEO of the company. The company’s Supervisory Board will elect five Board members and will put forward a recommendation which one of them should be appointed as a chairperson of the Board and CEO accordingly. The most suitable candidates are planned to be selected until the end of the current year. “Lietuvos energija” Board is executive - the selected Board members will supervise specific areas of the company’s activities.

 

“This selection is a great opportunity to join the team of the leading Lithuanian state- owned enterprise, implement strategically important energy projects, continue transformation of the energy sector, create an added value for residents, business, and the whole economy of Lithuania while carrying out responsible activity,” stated Chairman of the Supervisory Board of “Lietuvos energija” Darius Daubaras.

 

“Expectations raised by the shareholder, the Ministry of Finance, are high, whereas the strategic goal to become the most valuable energy enterprise in the Baltic States by 2020 is ambitious. Therefore, we expect that top-level professionals working not only in Lithuania but also abroad will participate in the selection,” told Chairwoman of the Appointment and Remuneration Committee of “Lietuvos energija” Daiva Lubinskaitė-Trainauskienė.

 

The new Board of “Lietuvos energija” will be formed by complying with transparency standards, based on the description of the corporate governance guidelines for the state-owned energy companies approved by order of the Minister of Finance. When preparing the new management structure and model, the best international and national practice were applied (including Organization for Economic Cooperation and Development, NASDAQ OMX Vilnius exchange, Baltic Institute of Corporate Governance). 

 

The term of office of the former “Lietuvos energija” Board expired on 22 July of the current year. The offices of Board members were held by Dalius Misiūnas, Ilona Daugėlaitė, Darius Kašauskas, Mindaugas Keizeris, and Dominykas Tučkus. Since 22 September, the temporary Board consisting of Mindaugas Keizeris, Ilona Daugėlaitė, Darius Kašauskas, and Dominykas Tučkus has been appointed.

 

Further information on the selection criteria of Lietuvos energija Board members can be found at: https://www.le.lt/index.php/karjera/darbo-pasiulymai/4254. Applications may be submitted by 20 November.