New INVEGA Supervisory Board elected
The new Board of Supervisors of INVEGA, the national promotional institution (NPI), has been selected through an international selection process to ensure its effective governance.
By a government decision, the private limited liability company Investment and Business Guarantees (lith. “Investicijų ir verslo garantijos” – INVEGA) became the only financial institution to retain its national promotional institution status. The newly selected Supervisory Board will be responsible for shaping INVEGA’s operational strategy, achieving its objectives and making recommendations for development. The internationally experienced members of the Supervisory Board will contribute to the implementation of a proven model of NPI governance based on best practices from abroad.
A unified investment strategy will help exploit synergies between different financial instruments, attract private investment and strengthen cooperation with other financial institutions. Once the consolidation of the national promotional institutions is complete, the NPI will be a reliable business partner, pooling financial instruments in one place. By mobilising existing financial resources and attracting new ones, the NPI will also increase investment in the country’s strategic areas, contribute to the development of the capital market, strengthen energy independence and ensure the country’s economic transformation.
The newly elected Supervisory Board will be the only one in the NPI group. The Supervisory Board is composed of seven members with a wide range of experience in finance and business, in both public and private sectors. The next task of the Supervisory Board of INVEGA will be to form INVEGA’s Management Board and to ensure the smooth further consolidation of the NPI Group.
Composition of the Supervisory Board
Pascal Lagarde is Managing Director of Bpifrance, the French incentive finance institution. He is also a member of the Board of the European Investment Fund. Mr Lagarde has many years of experience in French national development institutions.
Aivaras Čičelis has spent the last 25 years in the SEB Bank Group, 13 of which were spent on the SEB Bank Board. During this period, he has been in charge of various divisions of the bank and has been responsible for the bank’s major projects.
Saulius Galatiltis is an investment expert with more than 10 years’ experience, who has been responsible for the management of the Bank of Lithuania’s financial assets.
Daina Kleponė was the head of Versli Lietuva for five years, a public enterprise responsible for promoting exports, entrepreneurship and start-ups. Kleponė also has more than 20 years of experience in managing businesses.
Three observers have also been elected to represent the Ministries of Finance, Environment and Economy, and Innovation. Irma Patapienė, Senior Adviser at the Investment Department of the Ministry of Finance, has more than 10 years’ experience in the administration of EU funds, regulating the implementation of EU investments, and carrying out control and programme monitoring activities.
Aurimas Saladžius, Head of the Sustainable Development and Strategic Change Group at the Ministry of the Environment, has many years’ experience working in collaborative management and supervisory bodies, corporate governance and strategy development.
Povilas Kriaučeliūnas, Senior Specialist at the EU Investment Coordination Department, EU Investment Management Division, Ministry of Economy and Innovation, has been actively involved in the implementation of EU investment measures for more than seven years. He has also been involved in the implementation and administration of various forms of State aid measures.
The new Supervisory Board is elected for a four-year term.
