Ministry of Energy announces selection of six candidates for the Board of AB KN Energies

Core Viewpoint - The Ministry of Energy of Lithuania has initiated the selection process for the Board members of AB KN Energies, aiming to optimize the company's management structure and enhance corporate governance [1][4]. Group 1: Board Selection Process - The selection of Board members will follow the guidelines established by the Lithuanian government, ensuring a transparent and efficient process [2]. - The current Board operates under a two-tier management structure, which will transition to a one-tier structure upon the new Board's appointment [3][6]. - The Ministry, which holds 72.47% of the company's shares, has set expectations for adapting the corporate governance model to improve operations [4]. Group 2: Board Composition and Responsibilities - The new Board will consist of six members, with four being independent, and will also serve on Board committees [5]. - The selection process for the Board members is underway, with the aim of appointing them at the Annual General Meeting of Shareholders on 30 April 2026 [6].