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According to the press release, R. Masiulis will replace Litgrid as director of the company from 2020. October 16 Vidmantas Grušas, Acting General Director, who will continue to serve as Director of the Transmission Networks Department.
According to Algirdas Juozaponis, Chairman of the Litgrid Board of Directors, a competent, demanding and highly courageous professional manager capable of mobilizing employees to proactively pursue the company’s objectives and the National Energy Independence Strategy has been chosen to head this important company for Lithuania.
We established three main objectives for the CEO of Litgrid: to ensure the efficient and timely implementation of the projects necessary for synchronous operation with the European electricity transmission networks, thus finalizing the country’s energy security and independence, and to implement all possible measures to prevent unsafe electricity. of Belarus Market of Lithuania.
It is no less important to prepare the infrastructure of the Lithuanian transmission network for the integration of renewable energy sources based on new technologies, thus creating value for the company and the entire energy sector of the country ”, says A. Juozaponis, Chairman of the Board by Litgrid.
“The success of each project is primarily determined by the people – their professionalism, attitude, and ability to take advantage of the opportunities that open up, which is why I am happy to join the Litgrid team of professionals.
I appreciate the trust placed in me to lead a company that achieves one of the most important national objectives: to guarantee the security of the country’s energy system and its integration with the electricity transmission networks of continental Europe, while laying the foundations for a sustainability and modern energy of the future. I will strive to achieve the goals set by Litgrid in a timely manner and to create sustainable value for shareholders and society, ”says R. Masiulis, Litgrid’s designated CEO.
The candidate was assisted by the Litgrid Board of Directors in the selection of the Appointments and Remuneration Committee of the parent EPSO-G, which is composed of a majority of independent members. The recruitment and selection agency MPS Baltic was used to ensure transparency and impartiality of the selection. 2020 October 27 15 candidates participated in the selection of the CEO of Litgrid, which began in 2006, in accordance with the conditions known to all and equal qualification requirements, during which interviews were conducted with 11 candidates.
The Board’s decision to appoint R. Masiulis as Director General of Litgrid was made after examination of the candidate in accordance with the requirements of the Laws on the Protection of Important Objects to Ensure National Security and Prevention of Corruption.
R. Masiulis is an economist with a degree from Vilnius University and a master’s degree in international relations and political science. 2014-2019 headed the Ministries of Transport and Energy, since 2010. He served as General Director of AB Klaipedos Nafta. R. Masiulis accumulates more than 13 years. auditor experience in consulting and auditing companies.
R. Masiulis has 10 m. experience working in business directories. At the time of his appointment, R. Masiulis was a member of the boards of directors of Vilnius Lyceum and of the financial technology company UAB Connectpay.
AB Litgrid, the operator of Lithuania’s electricity transmission system, maintains the stable operation of the country’s electricity system, manages electricity flows and creates the conditions for competition in the open electricity market. The company owns more than 7 thousand in Lithuania. km of airlines, more than 200 transformer substations and 17 interconnectors with other countries are constantly monitored to ensure the adequate transmission of electricity to all residents, institutions and other organizations in the country.
Since 2010 December 22 Litgrid AB shares are listed on the NASDAQ OMX Vilnius Stock Exchange Additional Trading List. 97.5 percent. The shares of AB Litgrid are owned by UAB EPSO-G, of which 100% the shares belong to the Ministry of Energy of the Republic of Lithuania.
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