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Program for Corporate Secretaries 2024

Program for Corporate Secretaries 2024
Baltic Institute of Corporate Governance (BICG) invites to attend the program for corporate secretaries, to be held in Tallinn on November 14th & 15th. Highly practical, two-day program offers insight into the varied role and duties of a corporate secretary of non-executive (supervisory) boards in ensuring excellence in board work and improving overall corporate governance in a company. “The efficiency...

Baltic Institute of Corporate Governance (BICG) invites to attend the program for corporate secretaries, to be held in Tallinn on November 14th & 15th.

Highly practical, two-day program offers insight into the varied role and duties of a corporate secretary of non-executive (supervisory) boards in ensuring excellence in board work and improving overall corporate governance in a company.

“The efficiency of a value-creating board relies significantly on the support and expert advice provided by a highly professional corporate secretary. As good coprorate governance practices keep evolving, more new European Union and national regulations come into play and other stakeholder demands keep growing, this role is crucial in ensuring effective governance, compliance, and transparent decision-making,” says Rytis Ambrazevičius, President of the BICG.

Held every two years, the pogram for corporate secretaries is based on the good corporate governance practice framework as well as practical advice by experienced corporate secretaries.

For full information about the program and profile of an ideal participant, please see:

INVITATION (EN)

Please note that applications are open until the 15th of September, and you can find the respective form both through the invitation and here. And please be aware that your application is dependent on the approval of the BICG that will be made after closing the application process.

The cost of participation is 980 EUR (and VAT).

For more information, please contact:

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

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

Erik Sakkov
Country Manager Estonia
Mob. +372 502 1638
E-mail erik[at]bicg.eu

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Agreement with the Latvian Government to improve company governance

Agreement with the Latvian Government to improve company governance
On Monday, an agreement on implementing good corporate governance principles in both state-owned and privately held companies was signed by the Latvian Government, the Baltic Institute of Corporate Governance (BICG), the Foreign Investors' Council in Latvia, the Finance Latvia Association, and the Latvian Exporters' Association ‘The Red Jackets’. The purpose of the initiative is to advance corporate governance and thus...

On Monday, an agreement on implementing good corporate governance principles in both state-owned and privately held companies was signed by the Latvian Government, the Baltic Institute of Corporate Governance (BICG), the Foreign Investors’ Council in Latvia, the Finance Latvia Association, and the Latvian Exporters’ Association ‘The Red Jackets’.

The purpose of the initiative is to advance corporate governance and thus improve access to financing in the companies, encouraging Latvia’s economic growth.

“The agreement is meant to create a new commitment to good corporate governance practices among policy makers and business owners, which, in turn, would promote the overall competitiveness of the Latvian economy,” says Andris Grafs, BICG Vice President Latvia.

First proposed by the BICG in February, the agreement was then developed in cooperation with the Prime Minister’s Office as well as with the representatives of the respective business organizations.

Four actionable key directions have been agreed upon in the joint statement.

  • Ensuring active and responsible measures by the state as a shareholder and involving state-owned companies (SOEs) into promoting overall economic growth. It is agreed that the state, as an owner, will define and publish ambitious long-term shareholder expectations related to innovation, investment, and export. SOEs will also be encouraged to protect, preserve, and develop free, fair, and equal competition in their activities.
  • Improving the selection processes of SOEs supervisory board and management board members. It is agreed to develop legislative amendments to prevent unreasonably restrictive requirements for candidates to SOEs supervisory and management boards; to promote compliance with diversity principles, including equal gender representation, attraction of foreign professionals and reduction of the participation by ministry officials on SOEs boards; and to promote the career growth of internal managers up to the level of management boards.
  • Promoting the usage of appropriate financial instruments to achieve ambitious growth targets. It was agreed to support the idea that companies should use various sources to finance their growth, including profits, loans from banks, and especially currently less used capital market instruments, such as listing bonds and minority shares on the stock exchange.
  • Aligning the practices in privately held companies with the principles of good corporate governance. It was agreed to promote the implementation of good corporate governance principles in private businesses, which includes all signing business organisations inviting their members (companies) to follow the principles of the Latvian Corporate Governance Code.

Full agreement (in Latvian) available HERE.

“If the state, as a shareholder, aims to achieve ambitious development for the companies it owns, including expansion into export markets, it must recognize that this will be associated with greater risk and the requirement for additional capital. None of these objectives can be attained without structured corporate governance, the attraction of talent to company management and supervisory boards, thus ensuring the essential transfer of knowledge, diversity, and independence from undue political influence,” says Daiga Auziņa-Melalksne, Board member at the BICG, who signed the agreement on behalf of the BICG.

Photos: State Chancellery

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Highlights of AGM & Conference 2024

Highlights of AGM & Conference 2024
On April 18th & 19th, Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Annual Corporate Governance Conference 2024. Previously organised in Vilnius, this year the annual events were held in Riga, starting the rotation between the Baltic capitals and aiming to offer a more equal access to all members. While the AGM focused on the...

On April 18th & 19th, Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Annual Corporate Governance Conference 2024.

Previously organised in Vilnius, this year the annual events were held in Riga, starting the rotation between the Baltic capitals and aiming to offer a more equal access to all members.

While the AGM focused on the highlights of BICG activities during the previous year, the conference spotlighted the importance of board leadership in making decisions to improve strategies.

AGM

Members of the BICG approved the annual activity and audited financial reports during the AGM, and the overall Annual Report 2023 is now available online here.

“The year 2023 has proven that the demand for good corporate governance knowledge in Lithuania, Latvia and Estonia is only growing and that the BICG remains the competence centre for providing it. We were also able to achieve impactful changes through policy advocacy and to contribute a credible voice to the discussions on the European level, in the framework of the European Confederation of Directors’ Associations,” says Rytis Ambrazevičius, President of the BICG.

Board elections were held as well, with Daiga Auziņa-Melalksne, member of the Supervisory Board at Citadele, and Kristjan Endrikson, Renewable Energy Product Lead at Sunly, re-elected for a new tenure of 3 years; while Stepas Telešius, Co-founder and Board member at ACME Grupė, was elected for the first time.

The new member is stepping in after Simonas Gustainis, Partner at BaltCap, has left the position.

More information about the BICG leadership can be found online here.

Annual Corporate Governance Conference 2024

The Annual Corporate Governance Conference 2024 was joined by the speakers from the United Kingdom, Denmark, Lithuania, Latvia and Estonia, offering insight into showing leadership and vision when taking strategic decisions in rapidly changing environments.

Welcoming over 100 participants, Evika Siliņa, Prime Minister of Latvia, noted the importance of good corporate governance, including board professionalism and diversity, in her video address (available here).

Keynote speakers James Beasley, Head of Board Advisory, Europe, Middle East & Africa at Nasdaq, and Tim Brooks, Vice President & Head of Sustainability at LEGO Group, discussed board oversight in an age of uncertainty and integration of sustainability into company strategy.

Three panel discussions were held as well, focusing on the topics of shifting company strategy for fundamental reasons, role of the board in company ambitions and growth as well as the strategic importance of sustainability.

Full program of the conference here.

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Annual Corporate Governance Conference 2024

Annual Corporate Governance Conference 2024
Baltic Institute of Corporate Governance invites to the Annual Corporate Governance Conference 2024 | Decisions That Change Strategies, to be held on April 19th in Riga. As businesses have to navigate rapidly changing circumstances not only in their day-to-day life but also in creating long-term strategies, we will discuss how boards and management can show leadership in facing such a...

Baltic Institute of Corporate Governance invites to the Annual Corporate Governance Conference 2024 | Decisions That Change Strategies, to be held on April 19th in Riga.

As businesses have to navigate rapidly changing circumstances not only in their day-to-day life but also in creating long-term strategies, we will discuss how boards and management can show leadership in facing such a difficult challenge.

Insight and advice will be shared by the keynote speakers Tim Brooks, Vice President & Head of Sustainability of LEGO Group, and James Beasley, Head of Board Advisory, Europe, Middle East & Africa of NASDAQ, along with the experienced Baltic advisors and practitioners.

PROGRAM & REGISTRATION | https://www.governanceconference.eu/2024/.

Contacts:

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

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Annual General Meeting 2024 to be held in April in Riga

Annual General Meeting 2024 to be held in April in Riga
Baltic Institute of Corporate Governance (BICG) invites all members to the Annual General Meeting (AGM), to be held on the 18th of April in Riga. Please find the preliminary agenda of the meeting below and please note that the voting ballots and other related information will be available in the beginning of April.   Preliminary agenda of the AGM (EN)...

Baltic Institute of Corporate Governance (BICG) invites all members to the Annual General Meeting (AGM), to be held on the 18th of April in Riga.

Please find the preliminary agenda of the meeting below and please note that the voting ballots and other related information will be available in the beginning of April.

 

Preliminary agenda of the AGM (EN)

Preliminary agenda of the AGM (LT)

UPDATE, 4th of April, 2024:

Final Agenda of the AGM (EN)

Final Agenda of the AGM (LT)

Activity Report 2023 (EN)

Independent Auditor’s Report and Financial Statements 2023 (EN)

Nomination Committee Proposal (EN)

Draft decisions (EN)

Draft decisions (LT)

Voting ballot (EN)

Voting ballot (LT)

Voting ballot as an e-document should be signed by the member’s qualified e-signature (and returned via e-mail). Alternatively, paper copy can be signed by hand (and returned via registered mail by post). All ballots have to be received not later than 1 (one) hour before the start of the Meeting. /END UPDATE

For any questions, please contact Rytis Ambrazevičius, the President of the BICG.

Contacts:

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

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Executive Assistant in Latvia

Executive Assistant in Latvia
Baltic Institute of Corporate Governance, a non-profit setting the agenda for good corporate governance practices in Latvia, Lithuania and Estonia, is looking for an Executive Assistant to join the team in Riga, in a newly created part-time (1/2 day) position. As an Executive Assistant, your main job will be to support Vice President Latvia in running and growing operations in...

Baltic Institute of Corporate Governance, a non-profit setting the agenda for good corporate governance practices in Latvia, Lithuania and Estonia, is looking for an Executive Assistant to join the team in Riga, in a newly created part-time (1/2 day) position.

As an Executive Assistant, your main job will be to support Vice President Latvia in running and growing operations in Latvia, including organization of local events, preparation of relevant materials, position papers for governmental institutions as well as briefs for the media. You will also cooperate with the rest of the team in Estonia and Lithuania.

KEY RESPONSIBILITIES

  • Support Vice President Latvia and the rest of the team in implementing good corporate governance initiatives, primarily in Latvia but also across the Baltics.
  • Organization of good corporate governance education programs and other events, including communication with providers and participants.
  • Preparation and distribution of various materials relevant to operations in Latvia, both in Latvian and English, including research, creation of positions papers and presentations, briefs for the media.
  • Administrative tasks (meeting and travel organisation, expense management, etc.).

WHAT WE EXPECT

  • An interest in and understanding of good corporate governance principles.
  • Excellence in written communication as well as interpersonal and relationship-building skills.
  • Experience in organizing events.
  • Excellent Latvian and English skills, Estonian language being an advantage.
  • An ability to multitask, taking care of many different assignments in a fast-paced, deadline-driven environment.
  • Creativity and ability to work independently as well as a part of the team.
  • Readiness to learn and initiate.
  • Commitment to ethical behaviour, transparency, and accountability.

WHAT WE OFFER

  • Being a part of a leading business community in the Baltics and advancing real change in the behaviour of Baltic businesses.
  • Working within a highly motivated and well-organised team.
  • Possibility to learn and grow professionally through versatile and challenging tasks.
  • Possibility to combine job responsibilities with last-year Bachelor studies as well as Master’s or PhD studies.
  • Possibility to obtain information needed to work on a Bachelor, Master’s or PhD thesis related to corporate governance, diversity and sustainability.
  • Flexible hours.
  • Competitive compensation, depending on experience (1.000-1.300 EUR, gross).

HOW TO APPLY

  • Emailing your CV and motivation letter (in English) to info@bicg.eu, with the subject line: Executive Assistant in Latvia.
  • Deadline for all applications is January 31, 2024.
  • Interviews with the shortlisted candidates are expected to happen in February.
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