To strengthen sustainability oversight, Ignitis Group is looking for independent members to join Risk Management and Business Ethics Committee

12 January 2023

Ignitis Group has announced a selection process of two additional members, who will join company’s Risk Management and Business Ethics Committee (hereinafter – the Committee). The selected candidates will accordingly supervise the fields of Risk Management and Sustainability (focus on health and safety) in the Committee, which now already has two members, delegated by Ignitis Group’s Supervisory Board.

“The purpose of adding sustainability related topics to the agenda of the Committee is to strengthen oversight of sustainability agenda of Ignitis Group. We are looking for two skilled professionals to ensure sustainable performance and growth, complying with the highest corporate governance standards, properly managing business risks, and related to employee health and safety”, stated Tim Brooks Supervisory Board independent member, Chair of the Committee.

The Committee member who will oversee the field of Risk Management will replace the previous member whose term of office ended last year. The selection of the fourth member was initiated after Ignitis Group's Supervisory Board decided to expand the competences of the Committee and strengthen the supervision of occupational health and safety in the Group.

Therefore, adding to the existing functions, e.g., submitting conclusions or proposals to the Supervisory Board on the functioning of the risk management system and business ethics supervision in the Group, the Committee will oversee the strategic direction for sustainability. It will also provide an opinion and recommendations on sustainability actions and targets, oversee key ESG topics (occupational health and safety and climate) and assess the state of implementation of risk measures in these fields, monitor progress and review related disclosures and reports.

According to the requirements, both new independent members must have least 5 years of experience in managerial role. Special requirements for the first member include competences in risk management, business continuity management, internal control systems. The second one should have proven track of record in Health and Safety strategy and programme delivery. Both candidates should have at least 3 years of working experience in an international group of companies and/or experience in an international development of a company.

The Supervisory Board of Ignitis Group consists of 7 members: 2 members representing the Ministry of Finance or Republic of Lithuania and 5 independent members. In order to effectively carry out its functions and duties, the Supervisory Board of Ignitis Group forms committees. At the moment Risk Management and Business Ethics Committee has two members – Alfonso Faubel and the chair Tim Brooks.

More about positions: