Riga, 2015-11-06 13:37 CET (GLOBE NEWSWIRE) -- Taking into consideration that the term of the current Management Board of Latvenergo AS expires on 15 November 2015, today, on 6 November, the Shareholders Meeting appointed a new Management Board of Latvenergo AS, comprising five Members, appointed for a five-year term of office. The new Management Board of the company will commence its operation on 16 November 2015.
Composition of the Management Board of Latvenergo AS:
- Āris Žīgurs, Chairman of the Management Board
- Uldis Bariss, Member of the Management Board,
- Māris Kuņickis, Member of the Management Board,
- Guntars Baļčūns, Member of the Management Board,
- Guntis Stafeckis, Member of the Management Board,
The new Member of the Management Board Guntars Baļčūns works for Latvenergo Group already for 10 years, since 2007 he is the Director of Business Planning and Control and since 2014 – the Member of the Management Board of Enerģijas publiskais tirgotājs AS responsible for financial issues. Whereas Guntis Stafeckis, since 2011 is the Chairman of the Management Board and Executive Director of Latvijas elektriskie tīkli AS, a subsidiary of Latvenergo AS. The new Members of the Management Board have been selected pursuant to a tender procedure.
The previous Members of the Management Board Uldis Bariss and Māris Kuņickis and the Chairman of the Management Board Ā. Žīgurs have been approved for a further term, after assessment of their previous contribution in the development and operation of the company, and their provided strategic vision concerning challenges and development of Latvenergo Group in the future.
The Management Board of Latvenergo AS is responsible for the operation of Latvenergo Group. The Management Board operates in compliance with the Articles of Association and the Regulation of the Management Board, approved by the Shareholders Meeting.
Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 67 728 239
E-mail: investor.relations@latvenergo.lv
About Latvenergo
Latvenergo Group is a pan-Baltic energy company, engaging in electricity and thermal energy generation and supply, electricity distribution services and management of transmission system assets. Latvenergo Group holds one-third of the entire Baltic electricity market, thus ensuring its leadership in the Baltic electricity supply. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several years in a row. International credit rating agency Moody’s has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group includes the parent company Latvenergo AS (electricity and thermal energy generation and supply) and its subsidiaries Latvijas elektriskie tīkli AS (management of transmission system assets), Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (electricity supply in Estonia), Elektrum Lietuva UAB (electricity supply in Lithuania), Enerģijas publiskais tirgotājs AS (administration of electricity mandatory procurement process) and Liepājas enerģija SIA (electricity and thermal energy generation and supply), as well as Elektrum Latvija SIA (electricity supply), a subsidiary of Elektrum Eesti OÜ.