In order to formulate a clear, transparent and uniform model for recruitment and nomination of key personnel and their remuneration at EPSO-G Group level, a specialized Remuneration and Nomination Committee under the Company’s Supervisory Board will be formed. Candidates to take the post of an independent member of Remuneration and Nomination Committee are invited to submit applications by 11 July.
Management of EPSO-G Group is being improved according to the most advanced recommendations of international organizations. Among all other things, they also propose forming a Supervisory Board and a Board, which would also include independent professionals. EPSO-G Supervisory Board has already been approved, and out of 5 members two will be independent members. Currently the Audit Committee under the Supervisory Board is also being formed, which will consist of three members. At least two members shall be independent members, of whom one will be a certified auditor and another one will be appointed from among independent Supervisory Board members.
More information on the selection procedure for the post of an independent member of the Remuneration and Nomination Committee, candidate requirements, form of declaration of impeccable reputation and independence and evaluation criteria of candidates are published online at:
Viktorija Trimbel was elected the Chair of EPSO-G Supervisory Board
Independent member Viktorija Trimbel was elected the Chair of Supervisory Board of the company in the meeting of the Supervisory Board of UAB EPSO-G held on 10 June.
“Thank you for showing confidence in me. Many interesting tasks and challenges await ahead in EPSO-G Group, such as the development of strategic energy projects, increased efficiency of operating processes or implementation of best management practices” - said the Chair of Supervisory Board V. Trimbel.
V. Trimbel has more than 22 years of professional experience in leading complex strategic business and investment projects in large domestic and international companies, state and private sectors. The new Chair of the Supervisory Board of the Company has been included in the list of “Top-100 Women in Tech in Europe 2012” and has been recognized as a Paul Harris Fellow for social activities.
The Supervisory Board is a collegial body supervising activities of UAB EPSO-G and its subsidiaries. The EPSO-G Supervisory Board consists of five members, two of whom are independent members. The Supervisor Board is elected for the term of office of four years. According to the company’s Articles of Association, candidates for the post of the Chair of the Supervisory Board are nominated from among independent members of the Supervisory Board.
Chancellor of the Ministry of Energy Inga Černiuk, Head of the Legal Department at the Ministry of Energy Agnė Amelija Petravičienė, Advisor to the Prime Minister Audrius Misevičius and an independent member Raimondas Rapkevičius are also members of the Supervisory Board of EPSO-G.
In 2015, EPSO-G corporate governance guidelines were approved, on the basis of which EPSO-G Group management is being reformed according to the most advanced recommendations of international organization. The corporate governance reform is aimed at efficient state control through professional management. The management in boards of EPSO-G and its subsidiaries was entrusted to professional managers and independent members.
