Announcements

The Supervisory Board of Latvenergo AS has approved the appointment of Ilvija Boreiko to the position of a Member of the Management Board for a term of 5 years. Existing Members of the Management Board - Chairman of the Management Board Mārtiņš Čakste and the members Guntars Baļčūns, Dmitrijs Juskovecs and Harijs Teteris - will continue working on the Management Board.

On 10 May, the Supervisory Board of Latvenergo AS approved the appointment of Ilvija Boreiko to the position of Member of the Management Board, who had been performing the duties of a Member of the Management Board of Latvenergo AS since January 26 this year until the end of the selection procedure of a new Member of the Management Board. Ilvija Boreiko will also act as Chief Development Officer and be responsible for the Group’s growth in new segments of the electricity market – wind and solar park development, electromobility services and future power generation projects. Latvenergo Group’s strategy for 2022–2026 foresees a significant increase in the Group’s RES production capacity, reducing greenhouse gas emissions and contributing to Latvia’s climate neutrality by 2050.

Ilvija Boreiko holds a Social Sciences Master’s degree in Law, Business Administration and Labour Protection from Riga Technical University and the University of Latvia. Ilvija Boreiko has gained significant experience in Latvenergo AS since 2001, serving as Chief Development Officer of Latvenergo AS from 2023. Previously, from 2001 to 2022, under the leadership of Ilvija Boreiko, significant projects of Latvenergo’s plants were implemented – the establishment of a heat storage system at CHPP-2, the reconstruction projects of the units of the Daugava HPPs, the reconstruction project of the gate of the water spillway of Ķegums HPP, the reconstruction programme of auxiliary equipment of CHPP-2 within the framework of the CHPP-2 reconstruction project, the Aiviekste HPP reconstruction project, as well as the project for reconstruction of the upstream penstock concrete slope of Riga HPP. From August 2022 to November 2023, Ilvija Boreiko was also Chairperson of the Management Board of Latvijas vēja parki SIA.

The Member of the Management Board as the most suitable candidate was selected through a competitive selection process in accordance with the Law on Governance of Capital Shares of Public Entity and Management of Capital Companies. The selection procedure for the new Member of the Management Board was carried out by a nomination committee composed of delegated members of the Supervisory Board, representatives of the Cross-Sectoral Coordination Department of the State Chancellery and the Baltic Institute of Corporate Governance.