Decisions of the Annual General Meeting 2022

Decisions of the Annual General Meeting 2022

On April 22nd, Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) 2022 in Vilnius.

Members approved the annual activity and audited financial reports, and the overall Annual Report 2021 is now available online here.

“For the first time ever, the total number of our members has exceeded 300 and continues to increase. With the strengthening of operations in Estonia, three sessions of the Board member education program were held for the first time in one year as well, compared to the usual two. We have also returned to Stockholm for our Chair education program, which remains the only program dedicated to ensuring effective Board leadership in the region. At the same time, we continue to share our knowledge with the civil servants free-of-charge and to lead in policy advocacy, encouraging improvements in Baltic legislation”, says Rytis Ambrazevičius, President of the BICG.

Board elections were held as well, with Lina Kapčinskienė, Chair of the Management Board at Baltic Agro Machinery UAB, and Daiva Rakauskaitė, Partner at Business angels fund I LLP, being re-elected for their second tenures of 3 years, while Vita Balode-Andrews, CFO at Latvian Railway JSC, and Kati Kusmin, CEO of Riigi Kinnisvara AS, are joining as new members of the Board.

New members are stepping in as Guntars Baļčūns, CFO at Latvenergo AS, and Riina Käi, CFO at Elering AS, have stepped down after having completed two tenures each.

“I want to thank Guntars and Riina for their time, insight and overall guidance in the last six years, during which the number of our members and graduates has doubled, education programs received attention across Europe and our voice in policy advocacy contributed to many positive changes in the governance legislation in the Baltics. At the same time, I want to welcome Vita and Kati, who are both set to bring their own perspective and ideas”, says Rytis Ambrazevičius.

The AGM has also re-elected the Nomination Committee, with Aiga Ārste-Avotiņa, Managing Partner at Amrop Latvia; Nijolė Kelpšaitė, Managing Partner at J. Friisberg & Partners Lithuania; and Marja-Liisa Soone, Senior Legal Counsel at Bolt, set to continue their work for another 1-year tenure.

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

Members have also approved the updated version of the Statutes of the BICG, with amendments including an improved division of responsibilities between various bodies (e.g. governance functions more clearly assigned to the Board, management functions – to the President), inclusion of the Ethics Code as a key document of the Association, etc. The new version of the Statutes will come into effect after formal registration with the Centre of Registers in Lithuania.

We thank our corporate member Swedbank for hosting us.