News

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.