On April 30th, Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Governance Conference 2020.
Because of the ongoing quarantine measures in the Baltics and elsewhere, both events were held remotely.
The day started with the AGM, where decisions were taken by recording the votes received via advance voting ballots, while the afternoon was dedicated to the Governance Conference 2020, which was held online and focused on such topics as changing definition of the purpose of a company and advanced stakeholder relationships.
Members of the BICG approved the annual activity and audited financial reports during the AGM, and the overall Annual Report 2019 is now available online here.
Board elections were held as well, with Kārlis Danēvičs, Management Board member of SEB in Latvia; Kaarel Ots, CEO of Nasdaq Tallinn; and Irmantas Norkus, Managing Partner of COBALT Lithuania, re-elected for their second tenure of three years.
„Kārlis, Kaarel and Irmantas have all contributed their expertise to the success of the BICG during the last three years, and it is great that we will be able to continue to rely on them,” says Daiga Auziņa-Melalksne, Chair of the Board of the BICG.
The AGM has also elected the Nomination Committee, for a tenure of 1 year.
Aiga Ārste-Avotiņa, Managing Partner at Amrop Latvia and Amrop Estonia, and Nijolė Kelpšaitė, Managing Partner at J. Friisberg & Partners Lithuania, were re-elected to continue their work, while Marja-Liisa Soone, Head of Legal and Compliance at Ridango, is joining for the first time.
More information about the BICG leadership can be found online here.
Governance Conference 2020
Annual Corporate Governance Conference moved online this year, as speakers connected from France, Netherlands, Finland and Belgium, while participants joined from Estonia, Lithuania, Latvia and Belarus.
“Estonia, Latvia and Lithuania are now all members of the Organization for Economic Co-operation and Development (OECD), but this achievement is not a finish line, it is a new space for further improvement. That is why this year we have focused on what can the Baltic countries learn from the best practices of other OECD countries,” says Rytis Ambrazevičius, President of the BICG.
Michel de Fabiani, professional Board member from France, opened the event, by sharing the French experience and his insights into re-defining the purpose of companies.
“Raison d’être (reason for being) is becoming much wider, it covers not just producing and selling, but contributing to the wellbeing of society. What is very important, is that it is not just a marketing tool, it is a long-term strategy, which has to be reflected in your strategic plans, financials, etc.“ noted Mr de Fabiani.
Jan Wesseldijk, Chair of the European Confederation of Directors Associations (ecoDa) from the Netherlands, discussed best stakeholder relationship and engagement practices; Sandra Gobert, Executive Director at GUBERNA, the Institute of Directors in Belgium, explored the advanced new Belgian corporate governance code; and Leena Linnainmaa, Secretary General, Directors’ Institute Finland, shared insights into environmental, social and governance (ESG) related challenges and opportunities.