New Chair of the Board Elected

New Chair of the Board Elected

On December 6th, the Board of the Baltic Institute of Corporate Governance (BICG) elected a new Chair of the Board.

Kārlis Danēvičs is a Management Board member of SEB in Latvia.

He also serves as the Head of Lending Committee at the Finance Latvia Association, Chair of the Supervisory Board at the SOS Children’s Villages Latvia and a Senate member of SOS Children’s Villages International operating in over 130 countries.

“I believe that perhaps the most important precondition for Baltic countries to become as wealthy and prosperous as Scandinavian countries is good corporate governance. Decisions should be made and companies should be steered by willingness to create value, build and expand businesses. And businesses should be run and governed by maximizing long-term value for stakeholders and not by cutting corners, gaining at the expense of others or even by dishonest and reckless actions oriented towards short-term gains. I am proud to become the Chair of the Board at the BICG, as it has long been leading the change towards good corporate governance practices in the Baltics through education, business networking and advocacy work, with measurable and positive impact”, says Mr Danēvičs.

He is taking over from Lina Kapčinskienė, Managing Director and Chair of the Management Board at Baltic Agro Machinery, who has stepped down after serving as the Chair of the Board since 2020, and now remains a member of the Board.

Equally representing Latvian, Lithuanian and Estonian members, Board of the BICG is appointed at the Annual General Meeting, and establishes the strategies, goals and business procedures for the association.

Chair of the Board is elected by the Board members themselves.

More information about all of the Board members of the BICG can be viewed here.

BICG is the competence centre for creating well-governed businesses and stronger economies in the Baltics. It is an association working to ensure that private and state-owned companies are governed competently, transparently, with a high standard of accountability and are successful long-term. It is achieved through policy advocacy, best practice recommendations, education programs and other initiatives.