VILNIUS. On April 1st the Board of the group of energy transmission and exchange companies EPSO-G elected its independent member, Mr. Gediminas Almantas as a Board’s chair. He was a head of SE Lithuanian Airports in 2014-2018. He is an independent Board member of SE “Air Navigation” and a chair of the Lithuanian Red Cross. G. Almantas has been on the Board of EPSO-G since 2016.
“The group EPSO-G has made quite a progress in the area of corporate management and achieved high organizational maturity in the recent years. It is a result of intensive wok of all the employees, administration and collegial management bodies of the group. The newly elected Board of the group encounters the challenge to safeguard continuity of strategic projects and sustainability of performance, as well as to grant new impulses to the group with regard to changing performance environment and expectations of the interested parties,” – says G. Almantas.
Mr. Robertas Vyšniauskas, an independent member and consultant on corporate management, law and taxes, Mr. Dainius Bražiūnas, head of the Department of Oil and Gas of the Ministry of Energy, and Mr. Gediminas Karalius, advisor from the Electricity Department, are also working in the new Board. The sole shareholder of the holding company EPSO-G, Ministry of Energy, is planning to elect the third independent member of the Board in the near future.
The EPSO-G Board was elected for the new term in accordance with the guidelines on corporate management of the State-owned group of energy companies updated by the decision of the sole shareholder of 24 April 2018 and in accordance with edition of the company’s Articles of Association registered in the Register of Legal Entities on 24 April 2018, whereby the Board’s responsibility was increased by granting the supervisor function to it.
When this corporate management model had been implemented, the organizational and management structure of EPSO-G became simpler, more effective and stays in compliance with the top management standards.
Monitoring and Forecasting Agency (SIPA) granted the supreme A+ evaluation to EPSO-G in its latest index of good governance of the State-owned companies.