The Ministry of Finance, which holds the majority stake in Ignitis Group, has announced its proposed candidates for the company’s Supervisory Board. The selection includes four independent members and three civil servants. These nominations require approval from shareholders at the upcoming General Meeting scheduled for October 24.
According to the Ministry, candidates were chosen based on their experience in energy and finance, organizational development, digitalization, and international business. The list features Alfonso Faubel (renewables), Tim Brooks (sustainability and ESG), Lorraine Wrafter (organizational development), and Sian Lloyd Rees (risk management). All four currently serve on the board.
Civil servant representatives include Aušra Vičkačkienė (public policy and governance) and Ingrida Muckutė (accounting and audit), both continuing from the current term, as well as Lina Liubauskaitė (regulation) from the Office of the Government.
The Supervisory Board will have nine members: six independents and three civil servants. Background checks are ongoing for two independent candidates. The full composition is expected to be confirmed at the General Meeting of Shareholders on October 24. The current board’s term ends on October 25.
Alfonso Faubel brings 36 years of experience across energy, digitalization, and automotive industries, including roles at Siemens Gamesa and Alstom/General Electric. He has launched businesses in several countries.
Lorraine Wrafter is an HR executive with over 30 years’ experience in organizational transformation within multinational corporations such as HOLCIM and CARGILL Inc.
Tim Brooks has more than 20 years in sustainable development. He is Chief Sustainability Officer at Hikma Pharmaceutical plc and previously held senior sustainability roles at LEGO Group, where he managed renewable energy projects worth over $700 million.
Sian Lloyd Rees has more than 17 years’ international experience in energy sector leadership roles at companies like Aker ASA, Stena AB group, and Halliburn Corporation. She has overseen transitions from oil and gas to offshore wind industries.
Aušra Vičkačkienė has worked over two decades in civil service, including as Director of Asset Management Department at the Ministry of Finance. She serves on boards of various state-owned companies.
Ingrida Muckutė leads a department focused on reporting, audit, business valuation, and insolvency policy since 2004. She chaired national committees related to accounting standards during Lithuania’s EU Council presidency.
Lina Liubauskaitė heads the Economic Policy Group at the Office of the Government with more than 27 years’ public sector experience. She also serves on collegial bodies for state-owned enterprises.
The Supervisory Board oversees Ignitis Group’s activities and strategy implementation for a four-year term. The new structure increases its size from seven to nine members—six independents instead of five—and aims to strengthen corporate governance while supporting strategic national energy projects.
The selection process followed Lithuania’s Law on Equal Opportunities for Women and Men. An international committee led by the Minister of Finance selected independent members with assistance from UAB “Pedersen & Partners.” Forty-seven candidates participated in total.
A notification regarding the General Meeting can be found here: Notice of convening the General Meeting of Shareholders.
