News

On April 24^th, Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Baltic Corporate Governance Conference 2025 in Tallinn.

While the AGM focused on the highlights of BICG activities during the previous year, the conference discussed the pathways for further progress of corporate governance practices in the Baltics.

AGM

Members of the BICG approved the annual activity and audited financial reports during the AGM, and the overall Annual Report 2024 is now available online here.

“Among the significant policy projects of the year 2024, we have o­fficially proposed an overhaul of the outdated company law in Lithuania, were able to ensure the preservation of the independent board member institute in Latvian state- and municipality-owned companies, and started the review of the Estonian national corporate governance code. At the same time, our education programs continue to be recognized for the topmost standard across the Baltics and beyond, while the number of our members surpassed 400 for the first time, too,” says Rytis Ambrazevičius, President of the BICG.

Board elections were held as well, with Kati Kusmin, member of the Supervisory Board at Glassene, re-elected for a second tenure of 3 years; Lina Kapčinskienė, CEO at Baltic Agro Machinery; returning as a member of the Board after having served previously, between 2019 and 2022; and Valdis Vancovičs, CEO of Tele2 Latvia, elected for the first time.

Two new members are stepping in as Vita Andrews, professional CFO, and Daiva Rakauskaitė, CEO of Aneli Capital, have completed their tenures.

“I thank Vita and Daiva for their commitment to advancing good corporate governance practices in Latvia, Lithuania and Estonia. Their leadership and insight have helped to make BICG as effective in fulfilling its mission as it is today. At the same time, I want to welcome Lina and Valdis, who will contribute their own perspectives,” says Ambrazevičius.

More information about the BICG leadership can be found here.

Baltic Corporate Governance Conference 2025

The Baltic Corporate Governance Conference 2025 spotlighted the question of how further progress in corporate governance practices can be achieved in Lithuania, Latvia and Estonia, emphasizing that trust is the real capital needed in the Baltic economies and how good corporate governance is a key tool to build it.

Over 130 participants had a chance to hear from Kersti Kaljulaid, President of Estonia (2016-2021); Riho Terras; Vice Chair of the Committee on Security and Defense of the European Parliament and former Commander of the Estonian Defense Forces; Krišjānis Kariņš, former Prime Minister of Latvia; Taavi Rõivas, former Prime Minister of Estonia; Arvydas Sekmokas, former Minister of Energy of Lithuania, and Risto Siilasmaa, former Chair of the Board at Nokia, who led the company during its incredible transformation period.

Full program of the conference | https://www.governanceconference.eu/2025/

VIDEO | https://www.youtube.com/live/hY3DDkKeUtM

Baltic Institute of Corporate Governance (BICG) invites to attend a new course developed for the earliest graduates of the Board member education program, to bridge the differences in the knowledge about the best corporate governance practices as they were at the time when the program first started and as they are now.

Focusing on the board’s role in creating value for an organization, the continuous professional development course includes such topics as the changing scope of board responsibilities, effective governance of strategy and risks, questions of sustainability, etc.

“The list of board responsibilities is constantly expanding, same as the list of competences needed to fulfill them, and the only way to address this change is continuous professional education,” says Rytis Ambrazevičius, President of the BICG.

The new course will be held on October 22-24, in Vilnius.

For the full details, please see:

INVITATION (EN)

The cost of participation is 2.500 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

Baltic Institute of Corporate Governance invites to attend the Baltic Corporate Governance Conference 2025 | How Can We Aim Higher?, to be held on April 24^th in Tallinn.

While a good progress has been achieved in the corporate governance practices in Estonia, Latvia and Lithuania within the last fifteen years, there are still many improvements to be made, both by the Baltic governments and businesses.

Among the seasoned speakers, who will share their insight and advice:

• Riho Terras | Vice Chair, Committee on Security and Defense of the European Parliament, former Commander of the Estonian Defense Forces
• Krišjānis Kariņš | Senior Adviser at Kreab, former Prime Minister of Latvia
• Taavi Rõivas | Professional board member, former Prime Minister of Estonia
• Arvydas Sekmokas | Adviser, former Minister of Energy of Lithuania
• Risto Siilasmaa | Professional board member, former Chair of the Board at Nokia, who led the company during its incredible transformation period
• Vita Andrews | Board member, Baltic Institute of Corporate Governance

Time | April 24, 13:00-17:00

Place | Mövenpick Hotel, Lembitu str. 12, Tallinn, Estonia

PROGRAM & REGISTRATION | https://www.governanceconference.eu/2025/.

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 24^th of April in Tallinn.

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, 9^th of April, 2025:

Final Agenda of the AGM (EN)

Final Agenda of the AGM (LT)

Activity Report 2024 (EN)

Independent Auditor’s Report and Financial Statements 2024 (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