200th member of the BICG

200th member of the BICG

As the community of the Baltic Institute of Corporate Governance (BICG) continues to grow, we are pleased to be welcoming the 200th member this year.

Inese Zīle, Management Board member at the Development Finance Institution Altum, has joined as an individual member at the end of August.

„I believe strongly that nowadays a high standard of corporate governance in a company is not a trendy whim, but an absolute necessity. It brings the company’s values into action, provides for transparency of the processes and distinct route to be followed to achieve the targets. From my own experience in Altum – a state-owned capital company, implementation of the principles of corporate governance in the daily operations was one of the criteria that qualified the company for the high rating from the international credit rating agency Moody’s. Being aware of the implementation benefits, we urge also other companies to implement good corporate governance and make highest governance standards the corner stone of the company’s operations“, says Ms Zīle.

Currently, the community of the BICG is the largest it has ever been, with new members joining those who are continuing their support since the first start nearly a decade ago.

„Nasdaq has a long-standing commitment to promoting sound corporate governance, and the BICG has been our best in class partner in driving this important agenda in the Baltic region. During the nine years of operation, BICG‘s community has achieved a remarkable impact in the Baltics by raising awareness, bringing best corporate governance practice, professionalising Boards and educating Board members. It’s encouraging to see new members joining this cause, which is key for competitiveness and sustainable development of our region“, says Arminta Saladžienė, Vice President of Nasdaq, a corporate supporter of the BICG.

With corporate governance agenda becoming more prominent in the Baltics, the activities of the BICG have grown in their scope as well.

“We are appreciative of the support of the Baltic business community. We see it as our team and as an inspiration for our work. I want to thank everybody who supports our policy advocacy, research, education and all the other activities in encouraging best corporate governance practices in Lithuania, Latvia and Estonia”, says Rytis Ambrazevičius, President of the BICG.