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Baltic Institute of Corporate Governance (BICG) invites to attend an introductory course to the fundamental principles of good corporate governance, outlining the first steps for their implementation in practice and the value each participant can create by following them.

To be held for the first time in 2025, the new course is designed as the opening program for beginners, who do not yet have a significant working experience in the area of corporate governance but wish to learn more (mid-level managers, etc.).

Focusing on the key principles of good corporate governance and how they are applied in practice across the Baltics and elsewhere, the program discusses corporate governance framework and models as well as the value that can be created by effective boards, etc.

Time | September 11-12, 2025
Place | Vilnius, Lithuania

For the full information about the program, please see >> DETAILS (EN).

CONTACTS TO APPLY

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

Baltic Institute of Corporate Governance (BICG) invites to attend the Board member education program in the year 2025.

The program is designed to introduce business owners, board and supervisory council members as well as top executives to the best principles of corporate governance, providing a strong basis for their implementation in practice.

“It offers an opportunity to learn about the best practices in separating and fulfilling their particular responsibilities, to ensure long-term resilience and 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 parts (two days each, six in total) and final examination.

Three separate sessions will be held in 2025.

First group:
• February 27^th and 28^th – first part in Vilnius, Lithuania;
• March 6^th and 7^th – second part in Tallinn, Estonia;
• March 20^th and 21^st – third part in Riga, Latvia.

Second group:
• May 15^th and 16^th – first part in Vilnius, Lithuania;
• May 22^nd and 23^rd – second part in Tallinn, Estonia;
• June 5^th and 6^th – third part in Riga, Latvia.

Third group:
• October 2^nd and 3^rd – first part in Vilnius, Lithuania;
• October 9^th and 10^th – second part in Tallinn, Estonia;
• October 16^th and 17^th – third part in Riga, Latvia.

For the full introduction to the program, please see >>

INTRODUCTION (EN)

Please note that the number of places in the program is limited and after the application interviews priority is given to the participants who are directly involved in planning and implementing good corporate governance practices in a company, at a senior level (shareholders, board members, C-level executives).

CONTACTS

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

This week marks the 15^th anniversary of the Baltic Institute of Corporate Governance (BICG), since it was created in autumn of 2009, starting a movement towards good corporate governance practices in the Baltics.

“What at first was just an idea by a few determined minds is now a powerful movement uniting business leaders across Lithuania, Latvia and Estonia. With their support, the BICG has grown into the competence center for all good corporate governance advice, recognized beyond the Baltics,” says Rytis Ambrazevičius President of the BICG.

Among the highlights of the BICG achievements noted during the anniversary celebration in Vilnius on Tuesday were policy advocacy for establishing the importance of good corporate governance and professional, independent boards; best practice guidelines for private, public as well as state- and municipality-controlled companies; impactful education programs as well as other initiatives.

HOW THE BICG BECAME A REALITY (SEE HERE)

AMONG THE HIGHLIGHTS AT 15 YEARS (SEE HERE)

Photos: Mantas Gudzinevičius.

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

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 15^th 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

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

On April 18^th & 19^th, 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).

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

Baltic Institute of Corporate Governance (BICG) invites all members to the Annual General Meeting (AGM), to be held on the 18^th 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, 4^th 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

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.