Third independent member of EPSO-G Board appointed

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VILNIUS. In line with good governance practice, the sole shareholder of the holding  company EPSO-G, i.e. the Ministry of Energy, has appointed Tomas Tumėnas as the third independent member of the Management Board.

T. Tumėnas was selected from 28 candidates in the public tender. He is the Finance Director and the Member of the Board of AB “Linas Agro Group”, in charge of financial and risk management, formation and implementation of the financial strategy of the company quoted on the NASDAQ Stock Exchange. He holds Master’s degree in Science of Financial Management at Manchester Business School and Vilnius University.

“This appointment completes the formation of the Board of EPSO-G consistent with the practice of good governance. In accordance with the professional experience and competence requirements for the applicants, the Board already has members experienced in the supervision of strategic national energy projects, energy market and regulation, operational efficiency and corporate governance. We are convinced that T. Tumėnas will perfectly complement the Board’s competencies with experience and knowledge in financial and financial risk management,” says Egidijus Purlys, Vice-Minister of Energy.

T. Tumėnas will join the Board of EPSO-G, which currently has two independent members: Gediminas Almantas, the Chairman of the Board, operation and efficient management professional, and Robertas Vyšniauskas, corporate governance, law and tax consultant. In the Board also works Dainius Bražiūnas, the Head of Energy Security Policy Group of Ministry of Energy of the Republic of Lithuania and Gediminas Karalius, Adviser to Strategic Transitions Management Group.

Based on the updated version of the articles of association of the EPSO-G management company of 1 August 2018 registered in the Register of Legal Entities increases the responsibility of the Board by giving it a supervisory function.

The Board of EPSO-G, consisting of five members, began its four-year term in office on 20 March 2019.

Last updated: 20-11-2019