On April 24th, 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“Among the significant policy projects of the year 2024, we have officially proposed an overhaul of the outdated company law in Lithuania, were able to ensure the preservation of the independent board member institute in Latvian state- and municipality-owned companies,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
