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AGM decisions

AGM decisions
On the 19th of April, the Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Governance Conference 2018, in Vilnius. The morning session was dedicated for the AGM, with the members from Lithuania, Latvia, Estonia and Finland meeting to discuss key achievements of the BICG during the previous year. The afternoon session and Governance Conference 2018...

On the 19th of April, the Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Governance Conference 2018, in Vilnius.

The morning session was dedicated for the AGM, with the members from Lithuania, Latvia, Estonia and Finland meeting to discuss key achievements of the BICG during the previous year.

The afternoon session and Governance Conference 2018 focused on the major new trends in corporate governance, including new competencies needed in contemporary boards, investors’ expectations and more.

AGM

Members of the BICG approved the annual activity and audited financial reports during the AGM, and the overall Annual Report 2017 can now be found online here.

Board elections were held as well, with Indrek Hääl stepping down after completing his tenure, and Priit Leppasepp, General Counsel of Nelja Energia, being elected as the new member of the Board.

„We sincerely thank Indrek Hääl for the three years he has worked as a Board member of the BICG, helping to guide our work during an active period of growth, and we are happy to welcome Priit Leppasepp, who will contribute a new Estonian voice to all Board discussions,” says Rytis Ambrazevičius, President of the BICG.

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.

Governance Conference 2018

The annual Governance Conference this year was focused on the key new trends in corporate governance, signalling the evolution of necessary board competencies and new additions to the board agenda.

It was opened with the welcome speech by Virginijus Sinkevičius, Minister of Economy of Lithuania, who shared an encouraging vision for the further progress of corporate governance in state-owned companies.

Among the speakers were Jakob Stengel, Chair of the Danish Professional Directors Association; James Jarvis, corporate governance analyst at the Institute of Directors, UK; Eric Pedersen, member of the Danish Corporate Governance Committee; and Sören Mellstig, independent Board professional from Sweden.

“As indicated by the speakers who are all well experienced and informed in their respective fields, new trends in corporate governance reflect the rapidly changing business environment, ever more frequent disruptions as well as a growing demand from stakeholders to consider a wider role a company plays in the society. These changes call for adjustments in the board agenda, for contemplation of what new competencies are necessary for an effective board work and for a realisation that good governance culture should really go beyond just the board work and be fostered at all levels of the company,“ says Mr Ambrazevičius.

Program of the AGM & Conference

Opening speech by Virginijus Sinkevičius, Minister of Economy of Lithuania.
Jakob Stengel, Chair of the Danish Professional Directors Association, shared his insights into Board competencies needed in contemporary Boards and more.
James Jarvis, corporate governance analyst at the Institute of Directors, UK, spoke on new shifts in corporate governance indicated by the changes in the UK governance code.
Eric Pedersen, member of the Danish Corporate Governance Committee and CEO at Nordea Invest, shared investors’ view and expectations for future Boards.
Sören Mellstig, independent Board professional from Sweden, discussed Board’s role in ensuring long-term sustainable business model in the rapidly changing business environment.
Coffee and discussions, with Andris Grafs, Vice President Latvia of the BICG; Daiga Auziņa-Melalksne, Chair of the Board of the BICG; and Guntars Baļčūns, member of the Board of the BICG.
Coffee and discussions.

We thank our member Schage Real Estate for hosting us at the Quadrum business center.

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BICG joins ecoDa

BICG joins ecoDa
The Baltic Institute of Corporate Governance (BICG) is joining the European Confederation of Directors’ Associations (ecoDa) as a new member. ecoDa unites 20 national institutes of directors throughout Europe, acting as a corporate governance expertise sharing network, a place for debate and a credible voice in the development of corporate governance related recommendations. Operating in Lithuania, Latvia and Estonia, the...

The Baltic Institute of Corporate Governance (BICG) is joining the European Confederation of Directors’ Associations (ecoDa) as a new member.

ecoDa unites 20 national institutes of directors throughout Europe, acting as a corporate governance expertise sharing network, a place for debate and a credible voice in the development of corporate governance related recommendations.

Operating in Lithuania, Latvia and Estonia, the BICG will be able to contribute a Baltic perspective regarding the European corporate governance framework.

“We are looking forward to being a part of the European corporate governance knowledge sharing network and to adding a Baltic voice to the conversation. Both Estonia and Latvia are now members of the Organisation for Economic Co-operation and Development (OECD) and the accession process of Lithuania is set to conclude in the near future. Being a part of ecoDa is a new step to achieve even more access to corporate governance expertise for the Baltic business community,” says Rytis Ambrazevičius, President of the BICG.

Among other things, the Baltic countries are often perceived as a model for entrepreneurially-oriented policies and are, together with the other Nordic countries, front-runners of digitalization in Europe. “This new member adds diversity to our European voice of directors and brings new perspectives at a time when digitalization is high on the agenda of the European Commission”, stated Irena Prijovic, ecoDa’s Chair. “Given that entrepreneurship is a key driver of the Fourth Industrial Revolution, we rely on the input of the Baltic Institute of Corporate Governance to help us shape what Corporate Governance of tomorrow should look like”.

About

BICG delivers value to its members and stakeholders by promoting global competitiveness of Baltic companies through adoption of leading corporate governance practices. To achieve this goal, BICG is carrying out policy advocacy activities in cooperation with the Baltic governments and international organizations (such as the OECD); developing research and guidelines as tools for corporate governance improvements among Baltic companies; and providing education for professional board members and chairpersons in terms of designated education programs, business delegations, annual events and seminars.

ecoDa is a non-profit association founded in December 2004 under the laws of Belgium. Through its national institutes of directors (the leading national institutes in Europe), ecoDa represents approximately 55,000 board directors from across the EU. The member organisations of ecoDa represent board directors from the largest public companies to the smallest private firms, both listed and unlisted.

Press release by ecoDa

For more information: http://www.ecoda.org

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Annual General Meeting & Conference 2018

Annual General Meeting & Conference 2018
Baltic Institute of Corporate Governance (BICG) invites members to the Annual General Meeting and Corporate Governance Conference 2018, to be held on the 19th 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 St. 4, Vilnius, Lithuania), the President of the association hereby convenes the annual general meeting (AGM)...

Baltic Institute of Corporate Governance (BICG) invites members to the Annual General Meeting and Corporate Governance Conference 2018, to be held on the 19th 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 St. 4, Vilnius, Lithuania), 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:

AGM & Conference (EN)

Agenda of the AGM (EN)

Agenda of the AGM (LT)

At the AGM, we will discuss the activities and development of the BICG, hold Board elections and more.

Corporate Governance Conference 2018 will focus on key new trends in corporate governance.

Among our speakers, we will welcome Mr Jakob Stengel, Chair of the Danish Professional Directors Association, who will discuss what Board competencies are needed in contemporary Boards.

We will also be joined by Mr James Jarvis, corporate governance analyst, Institute of Directors, UK, who will speak on what new shifts in corporate governance are indicated by the recent changes in the UK governance code.

Mr Sören Mellstig, independent Board professional, Sweden, is set to discuss Board’s role in ensuring long-term sustainable business model in the rapidly changing business environment; and Mr Eric Pedersen, member of the Danish Corporate Governance Committee, will present investors’ view and expectations for future Boards.

We are looking forward to seeing you.

For more information, please contact:

Rytis Ambrazevičius
President
Mob. +370 698 17011
Email: rytis[at]bicg.eu

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