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Board Member Education, Spring 2018

Board Member Education, Spring 2018
Baltic Institute of Corporate Governance (BICG) invites to attend the Professional Board Member Education program to be held in spring 2018. Background of the Education “The program is designed to introduce Board and Supervisory Council members, shareholders and top executives to the best principles of corporate governance, providing a strong basis for their practical implementation. It offers an opportunity to...

Baltic Institute of Corporate Governance (BICG) invites to attend the Professional Board Member Education program to be held in spring 2018.

Background of the Education

“The program is designed to introduce Board and Supervisory Council members, shareholders and top executives to the best principles of corporate governance, providing a strong basis for their practical implementation. It offers an opportunity to learn about the best practices in separating and fulfilling particular responsibilities, and ensuring a long-term success of a company,” says Rytis Ambrazevičius, President of the BICG.

Topics of the education program are compiled based on the principles and recommendations on corporate governance by the International Finance Corporation of the World Bank Group (IFC) and Organization for Economic Co-operation and Development (OECD).

Education is held in the English language, it consists of three sessions (two days each) and final examination.

Spring dates:
• May 10th and 11th – first session in Vilnius;
• May 17th and 18th – second session in Tallinn;
• May 24th and 25th – third session in Riga.

To see the full introduction to the program, please follow the link below:

INTRODUCTION (EN)

For more information, please contact:

Rytis Ambrazevičius
President
Mob. +370 698 17011
E-mail rytis[at]bicg.eu

Andris Grafs
Country Manager Latvia
Mob. +371 297 84407
E-mail andris[at]bicg.eu

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Chair Education in Stockholm

Chair Education in Stockholm
Baltic Institute of Corporate Governance (BICG) is pleased to announce the registration for the Chair education course to be held in Stockholm on the 21st-24th of November. The program of the course will focus on an effective Board leadership, with the topics ranging from the Chair’s role in the organizational Board work to their key relationships, involvement in strategy and risk...

Baltic Institute of Corporate Governance (BICG) is pleased to announce the registration for the Chair education course to be held in Stockholm on the 21st-24th of November.

The program of the course will focus on an effective Board leadership, with the topics ranging from the Chair’s role in the organizational Board work to their key relationships, involvement in strategy and risk management processes.

We are very happy to say Mr Raoul Hasselgren, a long-time friend of the BICG, will be returning as one of the lecturers to continue in the Chair course where the Board member program leaves off.

We are also looking forward to welcoming Mr Dag Klackenberg, former Chair of Vattenfall; Mr Anders Ullberg, Chair of Boliden; Mr Jens Spendrup, former Chair of Spendrups, and others among our experienced speakers.

Our hosts during the session will be East Capital, Nasdaq, Swedbank and SEB.

To find more information about the program, please follow the link below:

INTRODUCTION (EN)

Please keep in mind that the Chair education course is only open to the graduates of the BICG who have already completed the Board member education.

A flashback to the first BICG Chair education course held in 2013 can be found by visiting: goo.gl/3kh6Qo.

For more information, please contact:

Rytis Ambrazevičius
President
Mob. +370 698 17011
E-mail rytis[at]bicg.eu

Andris Grafs
Country Manager Latvia
Mob. +371 297 84407
E-mail andris[at]bicg.eu

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BICG invites Baltic companies to assess their corporate governance practices

BICG invites Baltic companies to assess their corporate governance practices
To promote best corporate governance practices among the Baltic companies, Baltic Institute of Corporate Governace (BICG) has developed a practical Corporate Governance Assessment Tool that allows us to assess company`s corporate governance practices against international benchmarks and best standards. As a result, companies have an opportunity to identify their strengths, weaknesses and develop comprehensive plans for improvement. .. “Corporate governance...

To promote best corporate governance practices among the Baltic companies, Baltic Institute of Corporate Governace (BICG) has developed a practical Corporate Governance Assessment Tool that allows us to assess company`s corporate governance practices against international benchmarks and best standards. As a result, companies have an opportunity to identify their strengths, weaknesses and develop comprehensive plans for improvement.

..

“Corporate governance should not be understood as simply a checklist of various policies, it is an organizational culture and appropriate daily practises. Corporate Governance Assessment Tool offers an in-depth check of corporate governance state of play within companies and a chance to improve their competitiveness in the future,” says Rytis Ambrazevičius, President of BICG.

Objectives:

  • To assess current implementation of CG principles and compliance against given benchmarks,
  • To indicate opportunities in CG development,
  • To track the evolution of governance practices both for individual companies and for countries over time,
  • To educate companies on the essential elements of good governance,
  • To promote global competitiveness of Baltic companies through adoption of leading CG practices.

The Assessment Tool is based upon 3 internationally recognised benchmarks: G20/OECD Principles of Corporate Governance, OECD Guidelines on Corporate Governance of State-Owned Enterprises and ecoDa Corporate Governance Guidance and Principles for Unlisted Companies in Europe.

It groups 58 indicators into five CG categories: shareholder protection and rights, board of directors, transparency and reporting, control environment, stakeholders.

All companies are to be assessed depending on their types: listed, state-owned and unlisted/closely-held companies.

Assessment benefits for the company:

  • Detailed analysis of individual company governance practices,
  • Evaluation of the level of compliance against the best practice standards,
  • Evaluation of the level of compliance against the aggregate performance of all participating companies,
  • Identification of both strengths and areas for improvement in the company’s governance practices,
  • Opportunity for the company to develop a well-rounded and complete agenda, remedial plans and close gaps with best practice standards,
  • Data collection for tracking the evolution of governance practices within the company over time.

For more information, please visit here.

If your company might be interested in identifying its corporate governance strengths and weaknesses, and in developing comprehensive plans for improvement, please contact us.

A specific timeline for conducting an assessment is to be agreed with all companies on individual basis.

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Invitation to Board Member Education, Autumn 2017

Invitation to Board Member Education, Autumn 2017
Baltic Institute of Corporate Governance (BICG) invites board and supervisory council members, shareholders and top executives to attend professional board member education program in autumn 2017. Background of the Education "The program is designed to introduce all participants to the best principles of corporate governance, providing a strong basis for their practical implementation. As corporate governance is becoming increasingly recognised to be...

Baltic Institute of Corporate Governance (BICG) invites board and supervisory council members, shareholders and top executives to attend professional board member education program in autumn 2017.

Background of the Education

“The program is designed to introduce all participants to the best principles of corporate governance, providing a strong basis for their practical implementation. As corporate governance is becoming increasingly recognised to be an essential tool for building a valuable business, we are proud to be offering an opportunity to learn about the best practices from the Scandinavian experience and from the growing number of local experts in Estonia, Latvia and Lithuania,” says Rytis Ambrazevičius, President of the BICG.

Topics of the education program are compiled based on the principles and recommendations on corporate governance by the International Finance Corporation of the World Bank Group (IFC) and Organization for Economic Co-operation and Development (OECD).

Education is held in the English language, it consists of three sessions (two days each) and final examination.

Autumn dates:
• October 5th and 6th – first session in Vilnius;
• October 12th and 13th – second session in Tallinn;
• October 19th and 20th – third session in Riga.

To download the full introduction to the program, please follow the link below:

Introduction (EN)

Education helps shareholders to…

  • Monitor the company more effectively;
  • Ensure that it is run as efficiently as possible in the interests of shareholders;
  • Increase transparency of the company;
  • Boost access to capital and financial markets;
  • Elevate the confidence of potential partners;
  • Raise the value of the company;
  • Enhance and safeguard company reputation;
  • Develop the long-term prosperity of the company.

Education helps board and council members to…

  • Improve top level decision making processes;
  • Build up better control environments;
  • Develop better internal practices and compliance;
  • Reduce potential fraud and conflicts of interest;
  • Ensure higher level of protection for all investors;
  • Build effective, transparent and ethical business;
  • Improve relationships among the management, board, shareholders and stakeholders;
  • Contribute to the long-term, sustainable growth of the company;
  • Encourage effective succession planning for top and senior management;
  • Serve professionally on the boards in all three Baltic States and globally.

Education helps top management to…

  • Minimize losses, corruption, risks and mismanagement;
  • Obtain more favorable lending as a result of greater transparency and confidence;
  • Attract and cooperate with partners more beneficially;
  • Improve profitability;
  • Attract and retain key talents more easily;
  • Support brand formation and development;
  • Improve everyday interactions with shareholders, board and council;
  • Elevate company’s accountability and transparency to its shareholders and other stakeholders: employees, creditors, customers and the wider society;
  • Ensure continual achievement of shareholders’ goals.

For more information, please contact Rytis Ambrazevičius, President of the BICG, or Andris Grafs, BICG Country Manager in Latvia.

Rytis Ambrazevičius
President
Mob. +370 698 17011
E-mail rytis[at]bicg.eu

Andris Grafs
Country Manager Latvia
Mob. +371 297 84407
E-mail andris[at]bicg.eu

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Election of the Chair of the Board

Election of the Chair of the Board
The Board of the Baltic Institute of Corporate Governance (BICG) has unanimously voted for Daiga Auziņa-Melalksne to continue as the Chair of the Board for a second year. “Daiga’s dedication is one of the driving forces behind the many achievements of the BICG. I am confident that her leadership will help us in continuing to make a difference,” says Rytis Ambrazevičius, President...

The Board of the Baltic Institute of Corporate Governance (BICG) has unanimously voted for Daiga Auziņa-Melalksne to continue as the Chair of the Board for a second year.

“Daiga’s dedication is one of the driving forces behind the many achievements of the BICG. I am confident that her leadership will help us in continuing to make a difference,” says Rytis Ambrazevičius, President of the BICG.

Ms Auziņa-Melalksne is the Head of Exchange Services at Nasdaq Baltic. She chairs the Management Board at Nasdaq Riga and is a member of the Management Board at Nasdaq Tallinn.

“Sound corporate governance practices are fundamental for sustainable economic growth and competitiveness of the Baltic region. I believe that BICG has become a leading force for change in corporate governance field across the Baltics. We will continue our efforts to advance corporate governance reform agenda in the public sector and promote best governance practices in the private sector,” says Ms Auziņa-Melalksne.

Board of the BICG is appointed by the members of the BICG, at the Annual General Meeting (AGM), and establishes the strategies, goals and business procedures for the association.

Members of the Board elect the Chair in their first meeting held after the AGM.

More information about all of the BICG Board members can be found online here.

BICG is a non-profit and non-governmental organization missioned to deliver value to its stakeholders by promoting global competitiveness of enterprises in the Baltics and encouraging businesses to adopt leading corporate governance practices.

Press release (EN)

Contacts:

Rytis Ambrazevičius
President
Baltic Institute of Corporate Governance
Phone: +370 698 17011
Email: rytis[at]bicg.eu

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500th Graduate of the BICG

500th Graduate of the BICG
Last week, spring session of the BICG professional board member education ended with the 500th graduate of the BICG completing the course. “Since 2009, the BICG has been educating business leaders and policy makers in Latvia, Lithuania and Estonia. I am proud and happy to say that many of them have become ambassadors for good corporate governance in their respective...

Last week, spring session of the BICG professional board member education ended with the 500th graduate of the BICG completing the course.

“Since 2009, the BICG has been educating business leaders and policy makers in Latvia, Lithuania and Estonia. I am proud and happy to say that many of them have become ambassadors for good corporate governance in their respective fields and have proven to be a force for positive change in both public and private sectors,” says Rytis Ambrazevičius, President of the BICG.

The 500th graduation certificate was awarded to Mr Rokas Kasperavičius, Partner at KPMG Baltics in Lithuania.

“BICG has given me a great chance to get a wider perspective on what is important in the boardroom and what will have impact on the business in the future. Having a quality analysis on current situation and future trends leads to effective management and increased transparency which are keystones for success. In addition, the international aspect of the course was very valuable because being a part of BICG community is never about being local – even if you actually act locally, you have to think globally,” says Mr Kasperavičius.

Participants from Lithuania, Latvia as well as Estonia, Ukraine and Finland have graduated the course in the spring session.

Mr Arvils Ašeradens, the Latvian Minister of Economics and Deputy Prime Minister, gave the graduation speech, emphasising the importance of thought leadership in business.

“500 graduates is a great milestone, but with many corporate governance related reforms still being ahead in the Baltic countries, it is essential that all decision makers are well aware of the best governance practices,” notes Andris Grafs, BICG Country Manager Latvia.

The BICG organizes professional board member and chair education courses that introduce all participants to the best practices of corporate governance.

Topics of the BICG education programs are based on the principles and recommendations on corporate governance by the International Finance Corporation of the World Bank Group (IFC) and Organization for Economic Co-operation and Development (OECD).

After the examination.

Mr Arvils Ašeradens, the Latvian Minister of Economics and Deputy Prime Minister, gave the graduation speech.

Graduation, spring 2017.

Contacts:

Rytis Ambrazevičius
President
Baltic Institute of Corporate Governance
Phone: +370 698 17011
Email: rytis[at]bicg.eu

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OECD Secretary-General Address to the Annual Meeting and Conference of BICG

OECD Secretary-General Address to the Annual Meeting and Conference of BICG
On the 20th of April, the Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Governance Conference 2017, in Vilnius. The morning session saw the members of the Institute meet for the AGM, where they approved the annual activity and audited financial reports, elected new members of the BICG Board and the Nomination Committee. The afternoon...

On the 20th of April, the Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Governance Conference 2017, in Vilnius.

The morning session saw the members of the Institute meet for the AGM, where they approved the annual activity and audited financial reports, elected new members of the BICG Board and the Nomination Committee.

The afternoon session and Governance Conference 2017 opened with the welcome speech by Rugilė Andziukevičiūtė-Buzė, Vice-Minister of Economy of Lithuania, and a video address by Angel Gurría, Secretary-General of the Organisation for Economic Co-operation and Development (OECD).

„Improving corporate governance in these times, when public trust in governments and corporations is at record low levels, is even more important, and that is why I am delighted that we share this conviction,“ said Mr Gurría.

Watch the video address here

AGM

Four members of the BICG Board stepped down during the AGM and four new members were elected.

“I want to sincerely thank Arminta Saladžienė and Linas Dičpetris, who have been with the Institute since its very beginnings. We are simply fortunate to have had them on our Board, and to continue to have them as our members, friends and allies. And only the same thanks can be expressed to Uldis Biķis and Antanas Zabulis, who are stepping down after helping to make BICG as it is today,” says Rytis Ambrazevičius, President of the BICG.

New members joining the Board of BICG are Kārlis Danēvičs, Member of the Management Board at SEB in Latvia; Lina Minderienė, CEO of Lithuanian Post; Irmantas Norkus, Managing Partner of Cobalt Lithuania; and Kaarel Ots, CEO of Nasdaq Tallinn.

Daiga Auziņa-Melalksne, Chair of the Management Board at Nasdaq Riga, was elected to serve on the BICG Board for another 3 years tenure.

The AGM has also elected the Nomination Committee, for a tenure of 1 year.

More information about the BICG leadership can be found online here, while the BICG Annual Report 2016 can be viewed here.

Governance Conference 2017

The annual Governance Conference this year was focused on the Impact of Corporate Governance on Sustainable Business Success.

Among the speakers were Richard Frederick, corporate governance expert and one of the authors of the 1999 OECD Principles of Corporate Governance; Peter Englisch, Global Leader Family Business at EY; Matti Hyyrynen, Head of Baltics at European Bank for Reconstruction and Development; Imants Jansons, Vice President Legal Affairs at airBaltic; and Riina Käi, Member of the Management Board at Tallinna Vesi.

Vice-Minister of Economy

Ms Rugilė Andziukevičiūtė-Buzė, Vice-Minister of Economy of Lithuania, gave welcome speech.

Mr Richard Frederick

Mr Richard Frederick spoke on ensuring business sustainability through improved governance.

Audience

During the conference.

Mr Matti Hyyrynen

Mr Matti Hyyrynen shared investors’ view on corporate governance.

Mr Imants Jansons

Mr Imants Jansons spoke on corporate governance practise, sharing airBaltic experience story.

AGM & Conference

A short break.

RK

Ms Riina Käi shared the governance story of Tallinna Vesi.

Mr Peter Englisch

Mr Peter Englisch gave many insights into the governance of family owned businesses.

Informal discussions.

Informal discussions.

Informal discussions.

Informal discussions.

We thank our member Swedbank for hosting us for the day.

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Invitation to Board Member Education, Spring 2017

Invitation to Board Member Education, Spring 2017
Baltic Institute of Corporate Governance (BICG) invites board and supervisory council members, shareholders and top executives to attend professional board member education program in spring 2017. Background of the education Topics of the education program are compiled based on the principles and recommendations on corporate governance by the International Finance Corporation of the World Bank Group (IFC) and Organization for Economic...

Baltic Institute of Corporate Governance (BICG) invites board and supervisory council members, shareholders and top executives to attend professional board member education program in spring 2017.

Background of the education

Topics of the education program are compiled based on the principles and recommendations on corporate governance by the International Finance Corporation of the World Bank Group (IFC) and Organization for Economic Co-operation and Development (OECD).

The spring program will be led by well experienced Swedish and Danish professionals, as well as Baltic experts.

“We are happy to see that the importance of good corporate governance is becoming increasingly recognised across the Baltic region, and we are proud to continue to offer an opportunity to learn from the Scandinavian experience and from the growing number of Estonian, Latvian and Lithuanian experts,” says Rytis Ambrazevičius, President of the BICG.

Education is held in the English language, it consists of three sessions (two days each) and final examination.

Spring dates:

• April 27th and 28th – first session in Vilnius;
• May 10th and 11th – second session in Tallinn;
• May 18th and 19th – third session in Riga.

Education helps shareholders to…

  • Monitor the company more effectively;
  • Ensure that it is run as efficiently as possible in the interests of shareholders;
  • Increase transparency of the company;
  • Boost access to capital and financial markets;
  • Elevate the confidence of potential partners;
  • Raise the value of the company;
  • Enhance and safeguard company reputation;
  • Develop the long-term prosperity of the company.

Education helps board and council members to…

  • Improve top level decision making processes;
  • Build up better control environments;
  • Develop better internal practices and compliance;
  • Reduce potential fraud and conflicts of interest;
  • Ensure higher level of protection for all investors;
  • Build effective, transparent and ethical business;
  • Improve relationships among the management, board, shareholders and stakeholders;
  • Contribute to the long-term, sustainable growth of the company;
  • Encourage effective succession planning for top and senior management;
  • Serve professionally on the boards in all three Baltic States and globally.

Education helps top management to…

  • Minimize losses, corruption, risks and mismanagement;
  • Improve everyday interactions with shareholders, board and council;
  • Ensure continual achievement of shareholders’ goals;
  • Obtain more favorable lending as a result of greater transparency and confidence;
  • Attract and cooperate with partners more beneficially;
  • Attract and retain key talents more easily;
  • Improve profitability;
  • Support brand formation and development;
  • Elevate company’s accountability and transparency to its shareholders and other stakeholders: employees, creditors, customers and the wider society.

To download the full introduction to the program, please follow the link below:

Introduction (EN)

For more information, please contact:

Rytis Ambrazevičius
President
Mob. +370 698 17011
E-mail rytis[at]bicg.eu

Andris Grafs
Country Manager Latvia
Mob. +371 297 84407
E-mail andris[at]bicg.eu

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Impact of Disinformation: Strategy Adjustment & Risk Governance for Business

Impact of Disinformation: Strategy Adjustment & Risk Governance for Business
Baltic Institute of Corporate Governance (BICG) invites members to a discussion Impact of Disinformation: Strategy Adjustment & Risk Governance for Business organized in Riga, on the 21st of February. Mr Jānis Sārts, Director of the NATO Strategic Communications Center of Excellence, and Mr Uldis Biķis, Board member of the BICG and Chairman of the Supervisory Board at Latvijas Finieris, are the keynote...

Baltic Institute of Corporate Governance (BICG) invites members to a discussion Impact of Disinformation: Strategy Adjustment & Risk Governance for Business organized in Riga, on the 21st of February.

Mr Jānis Sārts, Director of the NATO Strategic Communications Center of Excellence, and Mr Uldis Biķis, Board member of the BICG and Chairman of the Supervisory Board at Latvijas Finieris, are the keynote speakers of the event.

“Information warfare is an everyday reality, which can have and has a significant impact on economies and businesses. In the Baltic region, in Europe and in the entire world. In their daily rush, people absorb messages from different sources and pass it on as the truth. That is why it is so important for everyone to distance themselves from emotions and confront disinformation, by using objectivity, factual arguments and by creating an outstanding discussion making culture. This event in Riga will be a great opportunity to examine this crucial issue,” says Mr Biķis.

Ms Inna Šteinbuka, Head of the European Commission Representation in Latvia; Mr Andris Lauciņš, Partner at Ernst & Young Latvia; and Ms Laura Minsekere, Co-founder and CEO of Mediju Tilts/Burson-Marsteller, will join us for the panel discussion.

Please note that both the keynote speeches and the panel discussion will be held under the Chatham House Rule.

The language of the event is Latvian, with English translation provided on request.

The discussion is organized together with the NATO Strategic Communications Center of Excellence, European Commission Representation in Latvia, American Chamber of Commerce and Latvijas Finieris.

It is open for the members of the BICG and American Chamber of Commerce, upon invitation and confirmed registration.

For more information about the program, please see the invitation:

Invitation (EN)

To register, please follow the link below:

Registration (EN)

Please note that due to limited availability, your registration will have to be confirmed by BICG to become finalised.

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Annual General Meeting & Conference 2017

Annual General Meeting & Conference 2017
Baltic Institue of Corporate Governance (BICG) invites members to the Annual General Meeting and Corporate Governance Conference 2017, to be held on the 20th of April in Vilnius. Following the Article 5.6 of the Statutes of the Association Baltic Institute of Corporate Governance, legal entity code 302441498, registered address Jogailos str. 4, Vilnius, Lithuania, (the “Association”), the President of the...

Baltic Institue of Corporate Governance (BICG) invites members to the Annual General Meeting and Corporate Governance Conference 2017, to be held on the 20th of April in Vilnius.

Following the Article 5.6 of the Statutes of the Association Baltic Institute of Corporate Governance, legal entity code 302441498, registered address Jogailos str. 4, Vilnius, Lithuania, (the “Association”), the President of the Association hereby convenes the annual general meeting (AGM) of members of the Association, the main details of which can be found below:

Agenda of the AGM (EN)

Agenda of the AGM (LT)

AGM & Conference (EN)

At the AGM, we will discuss the activities and development of BICG, elect new Board members, approve the annual report and more. At the Governance Conference 2017, we will discuss the impact of corporate governance on sustainable business success.

Among our speakers, we will welcome Mr Richard Frederick, corporate governance expert who has worked with the Organisation for Economic Co-operation and Development (OECD) and was one of the main authors of the 1999 OECD Principles of Corporate Governance, which have since become a global standard and an inspiration for many national codes of governance.

Mr Matti Hyyrynen, Head of Baltics at European Bank for Reconstruction and Development, will give investor’s view on corporate governance, while Mr Imants Jansons, Vice President Legal Affairs at AirBaltic, and Ms Riina Käi, Member of the Management Board at Tallinna Vesi, will share corporate governance stories of their respective companies.

We will also be joined by Mr Peter Englisch, Global Leader of EY’s Family Business Center of Excellence, who has extensive experience as an assurance and business advisory partner for national and international companies, and has worked with family-owned businesses for more than 20 years.

We are looking forward to seeing you!

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