Gold prices dip as hawkish Fed minutes weigh ahead of Jackson Hole
VILNIUS - Lithuanian energy company AB "Ignitis grupė" announced Friday that the Ministry of Finance has initiated the selection process for six independent members of its Supervisory Board, as the current board’s term expires on October 25, 2025.
According to a press release statement, candidates may apply until July 24, 2025. The selection will be conducted by a commission comprising representatives from the Prime Minister’s office, the Ministry of Economy and Innovation, the Governance Coordination Centre, and two representatives from the Ministry of Finance.
International executive search firm Pedersen & Partners will facilitate the selection process, which will evaluate candidates based on general, special, and independence requirements outlined in the official advertisement.
The new Supervisory Board will consist of nine members in total: six independent members and three civil servants to be selected by the Ministry of Finance at a later stage. The selected candidates will serve a four-year term following appointment by the company’s General Meeting of Shareholders.
Following recent changes to corporate governance guidelines, the board will form three advisory committees: Audit and Risk, Nomination and Remuneration, and Sustainability. To maintain business continuity, at least one-third of current board members will continue serving in the next term.
The Supervisory Board’s key responsibilities include overseeing the company’s activities, approving strategy, and monitoring implementation. The company stated it will provide further updates on the selection process as required by applicable regulations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.