On April 21st, Baltic Institute of Corporate Governance (BICG) held the Annual General Meeting (AGM) and Baltic Corporate Governance Conference 2023, in Vilnius.
AGM focused on the highlights of BICG activities during the previous year, while the conference spotlighted how good governance is a key tool in fostering business resilience among many current uncertainties.
Members of the BICG approved the annual activity and audited financial reports during the AGM, and the overall Annual Report 2022 is now available online here.
“An especially meaningful milestone was reached last year, when the number of graduates of the BICG Board member education program arrived at one thousand. It is a legacy that will continue to make a real impact on Baltic businesses practices for many years to come. At the same time, our voice keeps strengthening even beyond the Baltics, through such initiatives as the much-needed guidance for Boards how to engage with ESG prepared last autumn, etc.,” says Rytis Ambrazevičius, President of the BICG.
Board elections were held as well, with Kārlis Danēvičs, Management Board member of SEB in Latvia, and Irmantas Norkus, Managing Partner of COBALT Lithuania, re-elected for their third tenures of 3 years, while Ansi Arumeel, a Strategic Advisor from Estonia; and Simonas Gustainis, co-Managing Partner at BaltCap, are joining as new members of the Board.
New members are stepping in as Lina Kapčinskienė, Managing Director at Baltic Agro Machinery, and Kaarel Ots, CEO at Nasdaq Tallinn, have stepped down from their positions.
“I thank Lina and Kaarel for their insight and for their dedication in helping to make BICG the impactful organisation it is today. At the same time, I want to welcome Ansi and Simonas, who will contribute their own perspective and ideas,” says Mr Ambrazevičius.
The AGM has also elected members of the Nomination Committee, with their tenure newly extended from 1 to 3 years.
Aiga Ārste-Avotiņa, Managing Partner at Amrop Latvia, and Marja-Liisa Soone, Senior Legal Counsel at Bolt, were re-elected to continue their work, while Nijolė Kelpšaitė, Managing Partner at J. Friisberg & Partners Lithuania, has stepped down and Šarūnas Dyburis, Managing Patner at AIMS International Lithuania, is joining for the first time.
More information about the BICG leadership can be found online here.
Baltic Corporate Governance Conference 2023
The annual governance conference welcomed speakers from Lithuania, Latvia, Norway and Italy, to discuss how good governance can be a key tool in strengthening business resilience, in light of current geopolitical and other uncertainties.
Chiara Mosca, Vice-Chair of the Corporate Governance Committee at the Organisation for Economic Co-operation and Development (OECD), shared insight into the current revision of OECD Principles of Corporate Governance, considered to be the international standard of good governance and previously updated in 2015.
Baiba Apine, Chair of the Supervisory Board at the Ukrainian Oschadbank, discussed the work of the Board during the times of war.
Edvinas Kerza, Business Resilience Director at Lithuanian Railways, shared his extensive experience into improving resilience in the area of cybersecurity.
And Frithjof Lund, Senior Partner at McKinsey & Company, spoke about the crucial role Boards play in fostering resilience in all areas of a business.
Full program of the conference
We thank our corporate member Swedbank for hosting us.