Member of KN Supervisory Council Tomas Lukoševičius resigns

Member of KN (AB “Klaipėdos nafta”) Supervisory Council Tomas Lukoševičius submitted to the Company a notification of his resignation from the Supervisory Council as of 3 September.
 
Tomas Lukoševičius, currently the Director of the International and Planning Division of the Ministry of Energy, was elected Member of the Supervisory Council of the Company on 27 April 2018 by the ordinary meeting of shareholders. 
 
The Supervisory Council of the Company consists of three members, with at least two of the members being independent. After Tomas Lukoševičius’ resignation, the Ministry of Energy will organise the selection process of a new Member of the Supervisory Council. The Supervisory Council or its individual members are elected for a 4-year period by the shareholders’ meeting.  If individual members of the Supervisory Council are elected, they are elected only before the end of the term of office of the currently operating Supervisory Council.
 
The Supervisory Council of the Company approves the strategy of the Company and supervises the implementation thereof. It is also in charge of the supervision of transactions with third parties, and it collects and recalls members of the Board and monitors its activities.