Principles of corporate governance of APB Apranga

Corporate Governance of APB Apranga (further – the Company) is divided among General meeting of shareholders, a collegial management body - the Board and a sole management body - the company manager - the General manager. The corporate governance of the Company is based on the principles and provisions established in the Civil Code of the Republic of Lithuania, the Law on Companies of the Republic of Lithuania and the Company's Articles of Association.

General shareholder's meeting

The General meeting of shareholders is the body that decides the fundamental issues of the Company's activities. Its competence is defined by the Law on Companies of the Republic of Lithuania and the Company's Articles of Association.

All persons who were personally shareholders of the Company at the end of the accounting day of the meeting (the fifth working day before the day of the general meeting of shareholders), as well as persons authorized by shareholders or persons with whom a voting right transfer agreement has been concluded, have the right to participate and vote in the general meeting of shareholders.

A general meeting of shareholders can make decisions and is considered to have taken place when shareholders whose shares hold more than 1/2 of all votes participate in it. Shareholders can also vote in writing by filling out the general voting ballot and submitting it in accordance with the procedure provided for in the notice of the general meeting of shareholders.

The ordinary general meeting of shareholders must take place every year no later than 4 months after the end of the Company's financial year.
 

The management board

The Management board is elected by the Company's General meeting of shareholders. The Board of the Company consists of 6 members, of which at least 2 members are independent. The Board of the company is elected for a term of 4 years, without limiting the number of terms of office of the Board member, except for cases provided by law. The competence of the Company's Board is determined by the Law on Companies of the Republic of Lithuania and the Company's Articles of Association.

Composition of the company's board:

• Chairman: Darius Juozas Mockus
• Members: Vidas Lazickas, Ilona Šimkūnienė, Gintaras Juškauskas (independant member), Ramūnas Gaidamavičius, Jonas Jokštys (independant member).

Read more about the chairman and members of the board of directors.

General manager

The head of the company - the General manager is the sole management body of the company. The head of the company acts unilaterally in relations with other persons, except in cases where the approval of the Board or the General shareholders' meeting is required based on the laws or the Articles of association of the Company. The main duty of the General manager is to organize the Company's daily activities.

The Management board elects and dismiss the General Manager as well as in accordance with the Company's remuneration policy, determines his s alary, other terms of the employment contract, approves the job regulations, promotes him, and imposes penalties.

Head of the company: General Manager Rimantas Perveneckas.

Read more about the top management of the company.