Amrop concludes two searches of CEO and Board Member for Latvenergo AS, Latvia's most valuable company


Latvenergo AS, operating in the generation and trade of electricity and thermal energy, appoints new CEO and Board member responsible for generation.

The Supervisory Board of Latvenergo AS selected a new Chairman of the Management Board and two members of the Management Board with a five-year term - Mārtiņš Čakste has been appointed as the Chairman of the Management Board of Latvenergo AS, Dmitrijs Juskovecs and Harijs Teteris have been appointed as the members of the Management Board. Dmitrijs Juskovecs will act as the Chief Commercial Officer and Harijs Teteris will be responsible for the generation segment.

Ivars Golsts, Chairman of the Supervisory Board of Latvenergo AS: "Latvenergo Group is a convincing leader in the Baltic States in green energy and is planning an ambitious breakthrough in new business segments. The Management Board of the company will not only continue to move towards its ambitious goals in domestic and neighbouring markets, but also in line with the general strategic aim of the Group – increase the value of Latvenergo Group by economically justified development and provision of products and services in energy and related business value chains, as well as effectively managing strategically important resources and infrastructure for the development and security of the country. Rapid changes are taking place throughout society, especially concerning our sense of responsibility towards the environment, and this is also driving new and dynamic changes in business management. We will demand a lot from the team led by Mārtiņš Čakste, and I believe that we have appointed a young, ambitious and well educated person to the management of Latvenergo. In selecting candidates for Latvenergo's Board, it is important both to follow corporate governance standards and to involve high-class recruitment professionals, and we have established an excellent cooperation with the Amrop team. The Amrop team was passionate, thorough, and professional considering the complexity of the task and delivering the best solutions.”

Aiga Ārste-Avotiņa, Managing Partner of Amrop in Latvia and Estonia and Partner in Ukraine: “It has been a very honorable task to conduct these important and mission-critical assignments for Latvenergo. The Amrop team is proud to support Latvenergo in forming a leadership team in such an exciting period for the energy sector. The industry is being challenged by the development of new technologies and growing demands of customers, cross-border electricity connections are creating new opportunities, smart services are entering everyday life, and digitization of networks continuing and new energy markets opening up. I would like to express my special gratitude to our project team who along with me worked on this assignment - Ilona Baumane-Vītoliņa, Larisa Kovšare, Viesturs Lieģis and Signe Ikauniece.”

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