2017 March 29 17:31

KN appoints the new CEO – Mindaugas Jusius

Operator of oil products and liquefied natural gas terminals KN, in order to increase its competitiveness in the Baltic Sea Region and Europe, proactively implementing the good management recommendations, following the open and public competition for chief executive officer organised, appointed the new CEO – Mindaugas Jusius.

Mindaugas Jusius shall begin his duties as CEO of KN from 11 April 2017.

KN is among the first state companies in the country to have announced and implemented the public and open process for CEO's selection. During the selection, 38 candidates applied. Majority of them have significant professional, managerial experience and worked with strategic projects in the past. 

The process for CEO's selection consisted of four stages. In the initial candidates' assessment stages, the independent experts from Delta Executive Search & Consulting Company took part. In the later stages, the selected candidates were invited to interviews with the responsible members of the Company's Board. During the selection, the Board members assessed the candidates' competences acquired in various fields, including: management, finances, strategic planning, of specific branches of the industry: power engineering, transport, experience in implementing strategic corporate projects and business goals, and a number of other aspects. 

'Open competition to the KN CEO's position was organised for the first time in the history of the Company – it is another step forward in further consistent strengthening of this Company's management and implementing the best management standards. The top requirements and goals are set for the new CEO, since KN not only ensures implementation of strategic goals of the state in energy sector. Its strategy also includes the objective to develop business on international markets, thus aspiring to the greatest benefits for the state and all consumers. It requires immense experience, knowledge and lots of efforts. We expect the new CEO to ensure business continuation of the successfully operating KN and to strengthen the results that have already been achieved by now, in particular enhancing cooperation with the countries in the region', commented Minister of Energy of the Republic of Lithuania Žygimantas Vaičiūnas.

When reviewing the selection results, independent member of the Company's Board Bjarke Palsson states that search process was carried out in accordance with common Nordic practices for high level appointments of top level executive management. 

'The process was conducted so that both existing employees of the Company and external candidates could participate in the selection procedure. Upon completion of the selection procedure, a group of the strongest candidates was selected, while several candidates competed for the highest evaluation. The Board believes that the appointed new CEO of KN has a strong combination of competences, significant experience, both on the CEO level as well as from the financial and energy sector that are needed in pursuit of the high objectives of KN. We were happy to see so many highly-qualified professionals competing for the CEO's position, from whom the Company could select the candidates with the experience and competences that meet the Company's needs best', said independent member of the Company's Board Mr. Palsson.