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KN selects new Board

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LNG Industry,

The Supervisory Council of KN, an operator of LNG and oil terminals, has selected the members of the Management Board for the new four-year term of office. There will be four independent members in the Board of KN, who are professionals in the areas of energy, finance, and management: Alfonso Moriello, Edvinas Katilius, Jurate Lingiene, and Guy Mason.

The new Board of KN will take up office from 25 April 2022, once the term of office of the current Board of KN ends. The Ministry of Energy will submit shortly a candidate for the position of a member of the KN Board delegated by the shareholder for the consideration of the Supervisory Council.

Edvinas Katilius is a high-level experienced Executive with the proven track record to lead strategic change across large scale global organisation, which turned out to be successful for the organisation both financially and in managerial sense. Mr. Katilius has been working at Philip Morris since 1999, where over his long career, he was responsible for business development and sales strategy in different regions of activity of the company, namely, Baltic States, Poland, Russia, and Switzerland, where Katilius has been working as Vice-President of PMI Global Duty Free since 2017.

Jurate Lingiene has spent the majority of her professional career at SEB group in Lithuania, Latvia, and Sweden, where she worked as a Head of Finance, also was responsible for the development of SEB Shared Service Centres in Lithuania and Latvia. She has also worked as CFO and member of the Board of SEB Latvia. Since 2015, Ms. Lingiene has been working at SEB group as CFO for the Technology and Group Staff functions. Her responsibilities also include operational risk management in Technology organisation.

Alfonso Moriello is a professional in the area of energy with a wide baggage of management experience, whose strengths are in transformation of business and activities, and business development. For the most part of his career, Mr. Moriello worked at the global energy and petrochemicals group‚ Royal Dutch Shell Plc‘, as well as at the French start-up ‘Axegaz‘, which kick-started the development of the LNG refuelling station network in the country, as well as in other European countries. Moreover, Moriello has also contributed to innovative solutions in the area of biogas. The area of Moriello expertise covers international business transformation projects and business management by expanding the market and increasing generated revenue. Most recently, Mr. Moriello has been working at MAXCOM PETROLI S.p.A. as the member of the Board and LNG Managing Director.

Guy Mason is a highly experienced management professional who has held a number of senior management and Board positions during his 34-year career with BP, one of the world's largest oil and gas companies. From 2016 until 2020 Mr. Mason was appointed Vice-President at this company, responsible for shipping in the global market. Competences of the new Board member cover business development and management, finance, commercial operations, and change management. In addition to shipping, he has contributed to renewable energy and LNG projects in the UK and other regions. During his solid career, Guy Mason has gained valuable experience in organisations implementing significant strategic and operating model changes to ensure sustainable financial performance and operational profitability.

Eimantas Kiudulas, the Chairman of the KN Supervisory Council, says that what all the selected members of the Board have in common, is their experience in working with organisations, which, due to internal or external circumstances, have to transform and orient themselves towards the development of new business areas in global markets, as well as seek innovation. These are the key challenges that KN currently faces.

“On behalf of the Supervisory Council, I am glad that we have so many strong candidates in a KN Board recruitment process, who, together with the company want to engage in business transformation. I am very happy about the team we have assembled, as the selected candidates have valuable experience, which is going to be useful in managing strategic challenges of the KN and laying foundations for sustainable future of the organisation”, says Mr. Kiudulas.

In addition, Bjarke Pålsson, an independent member of the Board since 2017, has declared his wish to resign from the KN Board, 1 February 2022 being the last day of office, as he intends to concentrate more on his own business, Mark & Wedell A/S. To ensure a smooth takeover of duties and the continuity of the activities of the KN Board, Edvinas Katilius has been appointed to the current Board of the company as of 2 February 2022 until the end of his term on 24 April 2022 and later will continue working with the new Board.

“Mr. Pålsson will enter the history of modern governance of Lithuanian state-owned enterprises as the first foreign citizen to serve as an independent board member. His work has contributed to the enhancement of the principles of good corporate governance, and his experience in the energy sector, including gas and oil, plus his financial background has been extremely valuable for the performance of KN Board. On behalf of KN Supervisory Council, I would like to express our gratitude to Mr. Pålsson for his contribution and engagement over the last five years and that he agreed to serve one extra year in addition to the original first four-year period,” says Eimantas Kiudulas, Chairman of KN Supervisory Council.

Pursuant to the Articles of Association of KN, the Board of KN shall consist of five members, including the Chair of the Board, where at least at least three of them are independent members. The members of the Management Board are elected and recalled by the Supervisory Council for the period of four years.

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