Approved the final candidate for the position of Chair of the Management Board and Chief Executive Officer of AB “Ignitis grupė”

AB “Ignitis grupė” (hereinafter – the Group) informs that its Supervisory Board (hereinafter – the Supervisory Board), following a public selection process, approved Vytenis Koryzna as the final candidate for the position of Chair of the Management Board and CEO of the Group.

V. Koryzna is currently a member of the Management Board and Chief Commercial Officer (CCO) of the Group. He will succeed the Group‘s Chair of the Management Board and CEO Darius Maikštėnas, upon the conclusion of his second term of office on 28 February 2027. The final decision on the election of V. Koryzna for the position of Chair of the Management Board and CEO of the Group will be made after receiving the results of the background checks carried out by the competent authorities on the candidate’s suitability for the position in accordance with the procedure established by applicable legislation. Following the final decision on the election of V. Koryzna, the Supervisory Board will decide on the selection of a new member of the Management Board.

“The Group has undergone an exceptional transformation and today stands as a stronger, strategically well-positioned company, with very solid foundations for the future. The next CEO will inherit that legacy and have the responsibility to build on it. As the energy transition becomes more complex, this next phase will require not only continued investment and growth, but increasingly disciplined execution, operational excellence, and the ability to adapt to a rapidly changing energy environment. We were therefore looking for a leader with the strategic perspective, experience and leadership qualities to take what has been successfully built to the next level, while continuing to develop our people and organisation. We believe that Vytenis can lead Ignitis Group through this next phase, creating sustainable long-term value for our customers, shareholders and the society,” said Alfonso Faubel, Chair of the Supervisory Board of Ignitis Group.

V. Koryzna has more than ten years of senior executive leadership experience, including renewable energy and business transformation. Throughout his career, he has developed energy management, supply, trading and generation businesses, as well as new energy solutions, including solar energy, battery energy storage systems and electric vehicle charging infrastructure. V. Koryzna holds an EMBA in business administration and management from the Baltic Management Institute, and a Master of International Business from Vilnius University.

As a Member of the Board and CCO of the Group, V. Koryzna is responsible for energy markets and commercial operations, the Group’s energy trading, customer and energy solutions, and for building a customer and value-oriented organisation across all the Group’s home markets. V. Koryzna has gained valuable governance experience and an in-depth understanding of the Group’s operations and strategic priorities through his service on the boards of “Ignitis Renewables” and “Ignitis Gamyba”, as well as through chairing the board of “Ignitis”. V. Koryzna also initiated the transformation of the Group’s energy innovation function and the establishment of the Energy Transformation unit. This unit brings together capabilities in energy market analysis and modelling, the development of new technologies, and the creation of smart commercial solutions to further shape the strategy of the Group.

The selection process for the position of Chair of the Management Board and CEO of the Group has been launched on 1 June 2026 (link). The executive search agency UAB “Pedersen & Partners” carried out a comparative assessment of the candidates’ qualifications against the pre-established and publicly announced requirements, in line with best international practices for senior executive search, ensuring sufficient time to identify the strongest candidate.

The group’s CEO is being appointed for a five-year term. 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 of the Group is the CEO of the Group.

Communications
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt