A Member of the Management Board of Latvenergo AS has been selected through a competitive selection process
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.
Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: investor.relations@latvenergo.lv
www.latvenergo.lv
About Latvenergo
Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process), Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation) and Latvijas vēja parki SIA (development of wind parks in Latvia). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.
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