Supervisory Board

During the intervals between shareholder meetings, the interests of the shareholder of AS ‘Augstsprieguma tīkls’ (AST) are represented by the AST Supervisory Board, which uses carefully selected and effective management tools to supervise the activities of the AST management board and ensure that the value of the company increases.

The number of AST Supervisory Board members is determined by the Cabinet of Ministers, in accordance with the indicators showing the size of AST. The term of office of AST Supervisory Board members is determined by applicable binding laws and regulations.

The Supervisory Board participates in the strategic development of AST and supervises its finance and risk management system. The key principles for the operation of the Supervisory Board, and its main tasks, duties, and responsibilities, are governed by laws, the AST articles of association, and the bylaws of the Supervisory Board.

The AST Supervisory Board fulfils its duties and adopts decisions in a fair and objective manner, in compliance with laws and regulations, and the actions of the Supervisory Board comply with the highest standards of professional practice and ethics.

The salaries of the chairman and members of the AST Supervisory Board are determined in accordance with the Law on Governance of Capital Shares of a Public Person and Capital Companies and the Cabinet Regulations issued on its basis, including recommendations from the guidelines issued by the Cross-Sectoral Coordination Centre. The applicable laws and regulations set up a uniform framework for determining the remuneration of the Supervisory Board chairman and Supervisory Board members.

Authorisation agreements are concluded with the AST Supervisory Board chairman and Supervisory Board members, and they are not subject to the provisions of the AST collective bargaining agreement.

The AST Supervisory Board chairman and Supervisory Board members are not paid any bonuses, and they do not receive any retirement benefits or other compensations of any kind.

Four members of the AST Supervisory Board were appointed by the decision of the 30 December 2019 extraordinary AST shareholder meeting: Kaspars Āboliņš, Armands Eberhards, Madara Melne, and Aigars Ģērmanis. In view of prior performance of Supervisory Board member Olga Bogdanova, the shareholder meeting decided to extend her term in office.

The term of office of the elected Supervisory Board members will expire on 30 December 2024.

+Kaspars Āboliņš - Chairman of the Supervisory Board

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Work experience

2019 — Present

AS ‘Augstsprieguma tīkls’, Chairman of the Supervisory Board

2018 — Present

AS Conexus Baltic Grid, council chairman

2016 — 2018

‘Ziemeļu Investīciju banka’, chairman of the board of directors (as part of a rotation procedure)

2015 — Present

AS Air Baltic Corporation, council member

2014

AS ‘Attīstības finanšu institūcija’, restructuring manager

2013 — 2015

AS Reverta, council member

2012

VAS ‘Valsts nekustamie īpašumi’, board chairman

2011 — 2019

‘Ziemeļu Investīciju banka’, board member

2008 — 2010

AS ‘Parex banka’, council member

2008 — 2011

‘Ziemeļu Investīciju banka’, deputy board member

2006 — Present

‘Valsts kase’, manager

2003 — 2010

SIA BO ‘Ziemeļvidzemes atkritumu apsaimniekošanas organizācija’, council member

2001 — 2006

Ministry of Finance of the Republic of Latvia, Ugāle Parish financial stabilisation procedure supervisor

2000 — 2002

Ministry of Finance of the Republic of Latvia, chairman of the Municipal Lending and Collateral Control and Supervision Council

1997 — 2000

Ministry of Finance of the Republic of Latvia, member of the Municipal Lending and Collateral Control and Supervision Council

1999 — 2001

Ministry of Finance of the Republic of Latvia, head of the Municipal Financial Stabilisation Control and Supervision Council

1997 — 2006

‘Valsts kase’, head of the Financial Risk Management Department

1996 — 1997

Ministry of Finance of the Republic of Latvia, head of the Loan Forecasting and Analysis Section, External Debt Management Department

1994 — 1996

Ministry of Finance of the Republic of Latvia, senior expert of the Loan Forecasting and Analysis Section, External Debt Management Department

Education

1996 — 1999

University of Latvia, Faculty of Economics and Management, Master’s degree in Social Sciences and Company Management

1992 — 1996

University of Latvia, Faculty of Economics and Management, Bachelor’s degree in Business Management

1981 — 1992

Secondary education at Riga Secondary School No 58

Term of office: 30.12.2024.

Kaspars Āboliņš was elected in accordance with the Law on Governance of Capital Shares of a Public Person and Capital Companies, and Cabinet Regulation 686 ‘Procedure according to which Supervisory Board and board member candidates are nominated in companies, in which the state has the right, as a shareholder, to nominate Supervisory Board and board member candidates, namely, state-owned companies that have a Supervisory Board’ issued in 2015, on the basis of that law, as a Supervisory Board member affiliated with a shareholder.

+Dr. oec. Olga Bogdanova - Deputy Chairman of the Supervisory Board

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Work experience

2019 — Present

AS ‘Augstsprieguma tīkls’, deputy Chairman of the Supervisory Board

2016 — 2019

AS ‘Augstsprieguma tīkls’, member of the Supervisory Board

2018 — Present

Ministry of Finance of the Republic of Latvia, head of the Tax Administration and Public Interest Policy Department

2018 — Present

World Energy Council, expert, participant in the Future Energy Leadership project

2017 — 2020

Latvian Science Council, expert

2016 — 2018

Ministry of Economics of the Republic of Latvia, head of the Energy Market and Infrastructure Department

2016 — Present

Riga Technical University, lecturer at the International Business and Customs Institute of the Faculty of Engineering Economics and Management

2016

Ministry of Economics of the Republic of Latvia, acting deputy state secretary in energy affairs

2014 — 2016

Ministry of Economics of the Republic of Latvia, deputy head of the Energy Market and Infrastructure Department, head of the Energy Market Section

2013 — 2014

Ministry of Economics of the Republic of Latvia, head of the Energy Market and Infrastructure Section

2010 — 2013

Ministry of Economics of the Republic of Latvia, senior consultant at the EU Commodity and Service Market Section, Internal Market Department (reorganised section deputy head position, with additional deputy head duties)

2006 — 2010

Ministry of Economics of the Republic of Latvia, deputy head of the EU Commodity and Service Market Section, Internal Market Department

2006

Ministry of Economics of the Republic of Latvia, senior consultant at the EU Commodity and Service Market Section, Internal Market Department

2005

Ministry of Economics of the Republic of Latvia, senior consultant of the Section for EU Affairs administration, Department of International Economics

2005 — 2014

Riga Technical University, guest lecturer at the International Business and Customs Institute of the Faculty of Engineering Economics and Management

Education

2007 — 2012

Riga Technical University, doctoral degree in Economics at the International Business and Customs Institute of the Faculty of Engineering Economics and Management

2003 — 2006

Riga Technical University, master’s degree in Management Science, Management of International Economics (with honours)

2004 — 2005

Pforzheim Fachhochschule, Germany, International Management Programme, advanced vocational training diploma

2003 — 2006

Riga Technical University, Institute of Humanities, additional studies in Teaching Science, with a speciality in teaching engineering subjects

2000 — 2003

Riga Technical University, bachelor’s degree in Management Science, Management of International Economics (with honours)

Term of office: 30.12.2024.

Olga Bogdanova was elected in accordance with the Law on Governance of Capital Shares of a Public Person and Capital Companies, and Cabinet Regulation 686 ‘Procedure according to which Supervisory Board and board member candidates are nominated in companies, in which the state has the right, as a shareholder, to nominate Supervisory Board and board member candidates, namely, state-owned companies that have a Supervisory Board’ issued in 2015, on the basis of that law, as a Supervisory Board member affiliated with a shareholder.

+Armands Eberhards - Member of the Supervisory Board

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Work experience

2019 — Present

AS ‘Augstsprieguma tīkls’, member of the Supervisory Board

2019 — Present

European Investment Fund (EIB group) (Luxembourg), deputy director, board of directors (alternate director)

2011 — Present

Ministry of Finance, deputy state secretary for ESSFKF affairs

2014 — Present

European Investment Bank (Luxembourg), director/board member

2018

OECD/SIGMA (Melnkalne), consultant

2011 — 2012

AS ‘Hipotēku un zemes banka’, deputy council chairman

2004 — 2011

Central Finance and Agreement Agency, director

2010 — 2012

Hulla&Co. Hyman Dynamics TTSIB EuropeAid/ 130480/C/SER/MD; ECO 3, BE SATTO Project, Contract 200-049 (Moldova, Armenia), consultant

1998 — 2004

Central Finance and Contract Unit, director

1995 — 1998

Ministry of Finance, head of the International Aid Coordination Department

1994 — 1995

Ministry of Finance, head of the International Aid Coordination Section

Education

2005 — 2006

London School of Economics and Political Science (LSE) (UK), MSc Politics of the World Eco (Merit)

1998 — 1999

EHSAL Management School (Belgium), International MBA (Cum Laude)

1993 — 1994

University of Latvia, master’s degree in Environmental Studies and Management

1990 — 1994

University of Latvia, bachelor’s degree in Environmental Studies

Term of office: 30.12.2024.

Armands Eberhards was elected in accordance with the Law on Governance of Capital Shares of a Public Person and Capital Companies, and Cabinet Regulation 686 ‘Procedure according to which Supervisory Board and board member candidates are nominated in companies, in which the state has the right, as a shareholder, to nominate Supervisory Board and board member candidates, namely, state-owned companies that have a Supervisory Board’ issued in 2015, on the basis of that law, as a Supervisory Board member affiliated with a shareholder.

+Madara Melne - Member of the Supervisory Board

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Work experience

2019 — Present

AS ‘Augstsprieguma tīkls’, member of the Supervisory Board

2014 — Present

SIA CatchSmart, strategy director

2012 — 2014

Fridberg Nordic Timber Ltd., executive director

2009 — Present

SIA Baltic Transport Lines, executive director

2008 — 2009

Riga Wood France Ltd. (France), assistant sales manager

2007 — 2009

AS Latvijas Finieris, assistant sales manager

Education

2006 — 2010

University of Latvia, professional bachelor’s degree in Economics, with the qualification as a head of a unit for international affairs

2007

ESC Troyes – Champagne School of Management (France), bachelor’s degree in Business Administration (BBA), International Business

Term of office: 30.12.2024.

Madara Melne was elected in accordance with the Law on Governance of Capital Shares of a Public Person and Capital Companies, and Cabinet Regulation 686 ‘Procedure according to which Supervisory Board and board member candidates are nominated in companies, in which the state has the right, as a shareholder, to nominate Supervisory Board and board member candidates, namely, state-owned companies that have a Supervisory Board’ issued in 2015, on the basis of that law, as an unaffiliated Supervisory Board member.

+Aigars Ģērmanis - Member of the Supervisory Board

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Work experience

2019 — Present

AS ‘Augstsprieguma tīkls’, member of the Supervisory Board

2010 — Present

SIA CRC Consulting, board chairman

2018 — 2019

IMMER GROUP (Ukraine), development director

2014 — 2018

AMBER BEVERAGE GROUP, board member, commercial director

2009 — 2013

SANITEX GROUP, board chairman

2004 — 2009

PROCTER & GAMBLE BALTIJA, board chairman

Education

1998 — 2000

University of Latvia, master’s degree in Management Science

1993 — 1997

University of Latvia, bachelor’s degree in Business Management

Term of office: 30.12.2024.

Aigars Ģērmanis was elected in accordance with the Law on Governance of Capital Shares of a Public Person and Capital Companies, and Cabinet Regulation 686 ‘Procedure according to which Supervisory Board and board member candidates are nominated in companies, in which the state has the right, as a shareholder, to nominate Supervisory Board and board member candidates, namely, state-owned companies that have a Supervisory Board’ issued in 2015, on the basis of that law, as an unaffiliated Supervisory Board member.

AS ‘Augstsprieguma tīkls’ Supervisory Board regulations.

Amended and new version approved at the 20 January 2020 meeting of the AS ‘Augstsprieguma tīkls’ Supervisory Board.