Published: 2020-12-11 08:00:00 CET
Latvenergo
Changes board/management/auditors

Kristīne Sarkane is approved as a Member of the Management Board of Sadales tīkls AS

Riga, 2020-12-11 08:00 CET -- The Supervisory Board of Sadales tīkls AS has approved Kristīne Sarkane as a Member of the Management Board. K. Sarkane has been selected in an open competition. The new Member of the Management Board will start fulfilling her job duties on 18 January 2021, and her term of office is five years.

As a result, from 18 January 2021, the Management Board of Sadales tīkls AS will work in full composition. The areas of responsibility of the newly elected Member of the Management Board will be financial management of the company, constant improvement of the internal control system, supervision of procurement processes, management of logistics processes of goods, as well as control of legal compliance.

K. Sarkane has 20 years of experience in financial management gained through working in large international and local companies in the field of finances, IT&T and manufacturing. K. Sarkane was a Member of the Management Board of Pirmais slēgtais pensiju fonds AS, held leading positions at the Luminor Group, where financial risk management was improved under her leadership. For six years K. Sarkane worked at technology company Lattelekom (now Tet), where she was involved in the management of business processes, development and implementation of the medium-term strategy gaining experience in a company operating in a regulated environment.

I. Āboliņa, previous member of the Management Board of Sadales tīkls AS, left Sadales tīkls AS in August 2020 to accept new professional challenges.

Sadales tīkls AS, a company fully owned by Latvenergo AS, is the largest distribution system operator in Latvia, which is operating independently and ensures supply of electricity to more than one million customer sites, covering with its service 99% of the territory of Latvia.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: 
investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.