BICG

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 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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