Today, 27 June, the Supervisory Board of Latvenergo AS approved a further term of office for Management Board Member Guntars Baļčūns until November 15, 2030. Accordingly, The Management Board of Latvenergo AS is composed of the following persons - Chairman of the Management Board of Latvenergo AS Mārtiņš Čakste, Board Members Ilvija Boreiko, Dmitrijs Juskovecs, Harijs Teteris and Guntars Baļčūns.
Guntars Baļčūns has been with Latvenergo AS since 2005. He has served as a Member of the Management Board and Chief Financial Officer since 2015, and held the position of Chairman of the Management Board from 2020 to 2021. Guntars is a Member of the Supervisory Board of Elektrum Eesti OÜ and Elektrum Lietuva UAB, subsidiaries of Latvenergo AS. In 2016, he obtained a Master's degree in business administration from RTU Riga Business School, previously a Master's degree in economics from the University of Latvia (2005) and a Bachelor's degree in economics and business administration from the Riga School of Economics (2003).
The Members of the Management Board of Latvenergo AS are appointed by the Supervisory Board, based on an assessment of their competencies, experience, and the planned scope of responsibilities. The Management Board operates in accordance with the Articles of Association and the Management Board Regulations, and is accountable to the Supervisory Board. All Management Board Members act independently and do not hold any interests in the capital of cooperation partners or affiliated companies. They are jointly liable for compliance with all binding legal acts, the execution of decisions made by the Shareholders’ Meetings and the Supervisory Board, and for the financial operations of the Group.
Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: investor.relations@latvenergo.lv
About Latvenergo
Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas, development of solar and wind parks in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas, development of solar and wind parks in Lithuania), Elektrum Next SIA (development of solar and wind parks), Laflora Energy SIA (development of wind park), DSE Aizpute Solar SIA (development of solar park), Latvijas vēja parki SIA (development of wind parks), Telšiu vejo parkas, UAB (development of wind park in Lithiania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.