New Board of KN Takes Office

Source: 4/25/2022, Location: Not categorized

On Monday, April 25th, new Management Board of KN, the operator of liquefied natural gas (LNG) and oil terminals, starts the four-year term of office.

There will be four independent members in the Board of KN, who are professionals in the areas of energy, finance, and management: Alfonso Morriello, Edvinas Katilius, Jurate Lingiene and Guy Mason. They will also be joined by a member of the Board delegated by the shareholder, the Ministry of Energy.

In the outgoing Management Board, the following members were working since the beginning of its term of office: Mantas Bartuška, Dainius Bražiunas, delegated by a Ministry of Energy, and Giedrius Dusevicius, independent Management Board member, who acted as a Chairman. In addition, to ensure continuity of the Board, the following independent members have been appointed to the Board, replacing the previously resigned members: Guy Mason (from 1 December 2021), replacing Ian Bradshaw, and Edvinas Katilius (from 2 February 2022), replacing Bjarke Palsson.

"On behalf of the Supervisory Council, I express my gratitude to the outgoing members of the Management Board. They have made a significant contribution to the country's energy independence by taking important decisions on the implementation of the LNG long-term supply project. Moreover, it was during the term of office of this Board that KN took its first steps into the international market and became the operator of the LNG terminal in Brazil. Moreover, it was also this Board that had to navigate the company through the rather difficult crises caused by the global pandemic, the geopolitical environment and the war in Ukraine," says Eimantas Kiudulas, Chairman of the Supervisory Council of KN. - The professionalism, expertise and ability of the members of this Board to react and adapt to the challenges in business environment has contributed to a significant transformation of KN. I wish the new Management Board a successful continuation of the company's journey, with even more ambitious goals in Lithuania and internationally."

"The last couple years have been particularly intense for the company, as it has had to deal with complex and challenging tasks, both in the context of a radically changed operating context and in order to safeguard national interests of independence. KN team was able to mobilise quickly and appropriately and to manage the situation firmly, reacting promptly and decisively to changes in the environment in the best interests of the company. I sincerely wish to foster these abilities and dedication to performance and results," says Giedrius Dusevicius.

Pursuant to the Articles of Association of KN, the Board of KN shall consist of 5 members, including the Chair of the Board, where at least at least 3 of them are independent members. The members of the Management Board are elected by the Supervisory Council for the period of 4 years.

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