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VILNIUS - Lithuania’s Ministry of Finance announced Friday it has begun the selection process for three civil servant members to serve on the supervisory board of state-controlled energy company AB "Ignitis grupė".
The ministry, which exercises rights as the majority shareholder, is seeking candidates with expertise in public policy and governance, regulatory affairs, and accounting and audit. Applications will be accepted until August 21, according to a press release statement from the company.
The selection comes as the current supervisory board’s term expires on October 25, 2025. The ministry aims to complete the process before this date, with successful candidates appointed to four-year terms by a resolution of the company’s general meeting of shareholders.
A selection commission established by the Finance Minister, consisting of at least three members, will evaluate candidates based on general and special requirements outlined in the selection notice.
Following recent changes to the Guidelines on Corporate Governance of State-Owned Energy Companies, Ignitis’ supervisory board will comprise nine members: six independent members and three civil servants. The board will form three advisory committees: Audit and Risk, Nomination and Remuneration, and Sustainability.
The supervisory board is responsible for overseeing Ignitis’ activities, approving company strategy, and monitoring its implementation. To maintain continuity, at least one-third of current board members are expected to continue serving in the next term.
Ignitis grupė is Lithuania’s state-controlled energy holding company with operations across the Baltic region.
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