Today, on March 22, the conference “What expectations do we have for collegial bodies in state-owned enterprises?” was organised by the Governance Coordination Centre together with the Seimas Commission for Energy and Sustainable Development. Representatives of state-owned enterprises (SOEs), members of collegial management and supervisory bodies, and private sector professionals have shared experiences and ideas on how to improve the governance of SOEs by strengthening the role and involvement of collegial bodies.
“This event, that brought together corporate governance experts from the public and private sectors, was designed to discuss, how to leverage the expertise of private equity companies to enhance the governance of SOEs, strengthen the role of independent professional members of collegial bodies in decision-making, and ensure that their performance is properly assessed.
We had a constructive discussion, which showed that the role of collegial bodies in both, business and public sector, is crucial. Strengthening the institute of collegial body members is essential for professional governance of the SOEs. Enterprise governance professionals positively assess the changes that have started in the governance of SOEs. The experts of the recruitment agencies will soon be involved in the selection process of the collegial bodies’ members of the SOEs and the Governance Coordination Centre will continue to work closely with the newly elected independent members of both, SOEs and municipality-owned enterprises’ boards to advise on methodological issues. By stepping up the professionalism of the independent members attracted to the collegial bodies of the SOEs, we hope that in the next few years we will have a significant improvement in the management of the SOEs,” said Vidas Danielius, Director of the Monitoring and Forecasting Agency, which carries out the role of the Governance Coordination Centre.
Participants of conference and discussion: Minister of Economy and Innovation Virginijus Sinkevičius; Chairman of the Seimas Commission of Energy and Sustainable Development Virgilijus Poderys; Partner of BaltCap, the largest private and venture capital fund manager in the Baltic States, Kornelijus Čelutka; managing partner of WALLESS law firm Dovilė Burgienė; energy company Lietuvos Energija General Director Darius Maikštėnas; Chairman of the Board of Lietuvos Geležinkeliai Group Romas Švedas.