The council of the Latvian state energy giant AS Latvenergo has been removed by Economy Minister over lack of productivity. Yet its members have stated they are satisfied with the achievements of their work.
Latvian Economy Minister Ralfs Nemiro (KPV LV) removed the council of the state capital company on June 19. Nemiro thanked council members, who included an ex-banker and former and current heads of large state companies, for their work.
The minister, however, expressed the wish for Latvenergo’s council to work more actively and efficiently, especially in the lowering of the tariff of power distribution and in the company’s expansion to neighboring markets.
He also appointed an interim council, before future permanent board members are found in an open job competition.
The members of the removed board distributed a press release, commenting that they were proud and satisfied of their work carried out in a period of two-and-a-half years.
“We have been able to direct the Latvenergo group in the direction of sustainable development, at the same time working with determination with the lowering of power tariffs, while ensuring the necessary dividends to Latvian state budget,” said chairman of the board of Latvenergo Andris Ozolins on behalf of all removed colleagues. (BNN/Business World Magazine)
