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On the selection process for the new Supervisory Board term at AB “Ignitis grupė”

Written by Customer Service on . Posted in Public Companies.

AB “Ignitis grupė” (hereinafter – the Group) informs that on 4 July 2025, the Ministry of Finance of the Republic of Lithuania, which exercises the rights of the majority shareholder, announced the selection of six independent members of the Group’s Supervisory Board. This follows the upcoming end of the current Supervisory Board’s term of office on 25 October 2025. Candidates may apply until 24 July 2025 (inclusive).

The international selection of candidates for the positions of independent members of the Group’s Supervisory Board will be carried out by a selection commission. This commission will consist of one representative nominated by the Prime Minister of the Republic of Lithuania, one by the Minister of Economy and Innovation of the Republic of Lithuania, one representative of the Governance Coordination Centre, and two representatives nominated by the Minister of Finance. The selection process will be carried out by the international executive search agency Pedersen & Partners.

The advertisement, including the requirements for independent Supervisory Board members, is available here. Candidates will be selected based on the general, special and independence requirements outlined in the advertisement. The Group’s Supervisory Board Competency Profile is available here.

As the current term of the Group’s Supervisory Board ends on 25 October 2025, the selection process is expected to be completed prior to that date. The selected candidates will be appointed for a new four-year term by a decision of the Group’s General Meeting of Shareholders.

The Supervisory Board is a collegial body of the Group, with key competences including oversight of the Group’s activities, approval of its strategy, and analysing and supervising the implementation. In line with the updated Guidelines on Corporate Governance of the State-Owned Group of Energy Companies approved by the order of the Minister of Finance (hereinafter – the Guidelines on Corporate Governance), the Group’s Supervisory Board will be composed of nine members: six independent members and three civil servants selected by the Ministry of Finance. Following the recent changes to the Guidelines on Corporate Governance, the Supervisory Board will form three advisory committees from among its members: the Audit and Risk Committee, the Nomination and Remuneration Committee, and the Sustainability Committee. To ensure business continuity, at least one-third of the current members of the Supervisory Board will continue serving in the newly elected body for the next term.

It is further noted that the selection of civil servants will take place at a later stage, in accordance with the Guidelines on Procedures for the Selection of Persons to a Company’s Supervisory or Management Body (link in Lithuanian). The selection procedures for appointing civil servants to the Group’s Supervisory Board will be carried out by a commission of no fewer than three members, formed by the Minister of Finance.

The Group will provide further updates regarding the selection of Supervisory Board members in accordance with the procedures established by applicable legal acts.

For additional information please contact:

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

Investor Relations
Ainė Riffel-Grinkevičienė
+370 643 14925
aine.riffel-grinkeviciene@ignitis.lt

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