Baltic Institute of Corporate Governance

Welcome, Rīgas namu pārvaldnieks ! #BICG #RigasNamuParvaldnieks

Right organizational culture as the key to the long-term success of a company was discussed at the quarterly Lithuanian members’ breakfast in Vilnius today. Our thanks to Živilė Valeišienė, CEO of WitMind and independent Board member at Kelių priežiūra, for sharing her insights into the topic. #BICG #CorporateGovernance #CompanyCulture

Baltic Institute of Corporate Governance invites to a discussion where some of the most experienced recruiting professionals as well as board members from Estonia, Latvia and Lithuania will share how to attract the best candidates to company boards and how to become such a candidate.   Focus | How to Build a Board and How to Join It Time | October 15, 13:50-16:00 Place | Online (Zoom) Speakers | Aiga Arste - Avotina, Kairi Raudmets, Šarūnas Dyburis, Erkki Raasuke, Jurgita Petrauskiene, Zane Kotāne Attendance| BICG members – free of charge, others – 80 EUR (& VAT) Registration & other details | https://buildaboard.eu/

Having managerial experience, no matter at how high of a level, is not enough to become a good board member. It can often be the opposite, as top managers in their first board positions try to compete with the actual CEO of the company, creating many issues instead of any value.   "Therefore, for anyone striving to become a valuable board member, it is essential to make a real effort to understand how board responsibilities are different from those of the management. A good first step is of course learning from the universal principles of good corporate governance, and then making sure to stay up to date with all relevant knowledge", says Rytis Ambrazevičius, President of the Baltic Institute of Corporate Governance, whose comments were shared by Verslo žinios in their analysis of top managers in Lithuania showing growing interest in board positions. MORE | https://lnkd.in/dCsv8-Ds #BICG #Boards #CorporateGovernance #Education

Rail Baltica project governance challenges as well as opportunities it can create in the region were discussed at the quarterly Latvian members' breakfast in Riga on Wednesday. Many thanks to Girts Ruda, a member of RB Rail AS | Rail Baltica Supervisory Board, and Kitija Gruškevica, a member of RB Rail AS | Rail Baltica Management Board, for an interesting and open discussion. "Understanding the ongoing challenges in the Rail Baltica project, it is essential that the shareholding companies as well as governments of Latvia, Lithuania and Estonia finally move forward with some necessary but long overdue decisions – one is improving project governance model, particularly the processes related to overall decision making, which often prevent timely action; and the other is resolving the fundamental but still uncertain things, such as the route the new rail should take", says Andris Grafs, Vice President Latvia of the Baltic Institute of Corporate Governance. #BICG #RailBaltica #RBRail #CorporateGovernance

For municipality-owned companies (MOEs) to be governed effectively and transparently, it requires only the most basic restraint of political and personal interests while applying the principles of good corporate governance.   A cheat sheet for municipal politicians and their voters for how to make sure that MOEs serve not political but public interests was published as a commentary by Erik Sakkov, Country Manager Estonia of the Baltic Institute of Corporate Governance, by Delfi.ee.   MORE HERE | https://lnkd.in/dX5qFcDU #BICG #MOEs #CorporateGovernance

Welcome, SIA Rīgas ūdens! #BICG #RigasUdens

A quick look at the latest activities of the Baltic Institute of Corporate Governance (BICG) is now available in the quarterly newsletter. “While we continued to work with previously introduced major policy projects, such as the overhaul of the outdated company law in Lithuania, the first ever rotation of our annual general meeting from Vilnius to Riga and the first ever annual corporate governance conference EVA in Tallinn were also among the highlights of the second quarter of the year,” says Rytis Ambrazevičius, President of the BICG. Newsletter, Q2 | https://lnkd.in/eJGfS5Xa #BICG #CorporateGovernance

Delays and subsequently growing costs of the Rail Baltica project will not be solved by perpetually replacing the project managers and directors supervising them, like it is done now, but only by making a real effort in improving the corporate governance model and resolving the initially built-in conflicts regarding the decision-making authorities and responsibilities of all the parties involved. “As time keeps rushing by, the joint venture in charge of the project has already seen five different CEOs and nearly twenty members of the Management Board, while more than twenty officials have served on its Supervisory Board. However, the approach of focusing on personalities without fundamentally reevaluating the governance model is now very predictably proven to be incorrect, like the Baltic Institute of Corporate Governance (BICG) and others have been warning since the inception of the project. As long as the Baltic governments fail to agree, at the political level, to centralize the Rail Baltica planning, coordination and implementation functions in one company, and as long as they keep channeling political agendas of lesser importance into fundamental operational matters, it is very hard to expect that current project development challenges, including finding solutions for funding, will be solved,”, says Andris Grafs, Vice President Latvia of the BICG, whose commentary was published by Delfi.lv. Full text (in Latvian) | https://lnkd.in/d8-JJgFW #BICG #RailBaltica #corporategovernance

Baltic Institute of Corporate Governance invites to attend the program for corporate secretaries, to be held in Tallinn on November 14 & 15. Organised every two years, this highly practical, two-day program offers insight into the varied role and duties of a corporate secretary of non-executive (supervisory) boards in ensuring excellence in board work and improving overall corporate governance in a company. Please note that applications are open until the 15 of September. ALL DETAILS | https://lnkd.in/duXf89rx #BICG #corporatesecretary