The selection of the new Management Board has been launched
The selection of the new Management Board of AB “Ignitis grupė” has been launched
AB “Ignitis grupė” (hereinafter – the Group) informs that the Supervisory Board of the Group, considering that the term of the current Management Board of the Group (hereinafter – the Management Board) ends on 31 January 2022, adopted a decision to initiate a public selection of a new Management Board. The Supervisory Board of the Group also adopted the decision to extend the term of the current Management Board until a new Management Board is elected, but not later than until 28 February 2022.
Candidates are welcome to apply by 20 December 2021 (inclusive), job advertisements and qualification requirements are available at the Group’s website (link in Lithuanian). The selection of candidates to the Management Board will be conducted by an external partner the Executive Search Agency – J.Friisberg & Partners was selected to be a Partner in Management Board selection process.
The Management Board comprises five members that are elected for a four-year term by the decision of the Supervisory Board of the Group. According to the requirements of the Description of the Corporate Governance Guidelines of the State-Owned Group of Energy Companies, the Chair of the Management Board is elected as the CEO of the Group.
As the Group announced earlier, the new members of the Supervisory Board were elected on 26 October 2021. Considering that the newly elected Supervisory Board of the Group had to be introduced to the Management Board selection process and had to clarify the competence requirements for Management Board members as well as perform other necessary actions, and only then initiate the public selection of the new Management Board, in order to ensure the continuity of the Group’s operations until the election of a new Board and to ensure a smooth selection process, the term of the current Management Board was extended to 28 February 2022, in accordance with the Law on Companies.
The newly elected Management Board members will have to empower their competences to ensure proper operations of the Group and will have to supervise five different areas at the Group level – Strategy and Management, Commercial Activities, Finance, Organisational Development (Shared Services Centre functions) and Regulated Activities.
The Group will inform about further actions related to the selection of the Management Board members in accordance with the procedure set out in legal acts.
For more information please contact:
Artūras Ketlerius
Head of Public Relations at Ignitis Group
arturas.ketlerius@ignitis.lt
+370 620 76076
