We were retained by the main shareholder, the Ministry of Finance, to find two Supervisory Board members for the Group – an energy company which is one of the largest international utilities and renewable energy companies in the Baltic region operating in Lithuania, Latvia, Estonia, Poland and Finland. The Group’s innovation fund also invests in energy start-ups in the UK, Norway and France.
The Group’s strategy sets out the development of green energy as a priority with the aim of becoming the region’s main centre of excellence for new energy sources and a leader in distributed energy solutions in the Baltic Sea region and beyond. The IPO shares of the Group were listed on the Nasdaq Baltic Main List and London Stock Exchange leading to further international expansion.
The assignment included two key challenges:
In close cooperation with the Client we identified European markets with the strongest expertise in green energy development and those with an outstanding record of international expansion of the energy businesses. As a result, our offices in Germany, Spain, Denmark and Lithuania teamed up to undertake the Search. Detailed requirements for the candidates from both international development and renewable energy fields were agreed. In addition to extensive business expertise leading energy companies through vital transition to a green future, candidate requirements included experience in dealing with governmental stakeholders and knowledge of corporate governance in publicly listed companies.
Thanks to the joint efforts of our European offices together with close, sound, fruitful cooperation between Partners delivered a large pool of international candidates from Germany, Spain and Scandinavian markets. Finally, two professionals with an extensive international experience in global energy companies were approved as independent members of the Supervisory Board.