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Share Name Share Symbol Market Type Share ISIN Share Description
Latvijas Gaze NEX:LV0000100899-EUR NEX Common Stock LV0000100899
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.00 0.00 0.00 0.00 0.00 0.00 0 -
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Changes in the Management Board of JSC Latvijas Gāze

25/05/2020 2:00pm

GlobeNewswire Inc.


Latvijas Gaze (NEX:LV0000100899-EUR)
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Changes in the Management Board of JSC Latvijas Gāze

Sebastian Gröblinghoff Vice-Chairman of the Management Board and Chief Financial Officer (CFO) of AS Latvijas Gāze has decided to leave the company as of 30 June 2020 and continue his career in the energy sector outside of Latvia.

Sebastian Gröblinghoff has worked as Vice-Chairman of the Management Board since September 2016 and managed the establishment of Latvijas Gāze’s wholesale business as part of the company’s unbundling process in late 2016. During 2017, he took the responsibility for ensuring the smooth transition of Latvijas Gaze’s sales & trading business to an open market environment and delivered an essential contribution to the legal and structural separation and re-positioning of Latvijas Gāze’s transmission and distribution business.

On 1 January 2018, Sebastian Gröblinghoff became Chief Financial Officer of Latvijas Gāze. In this function, he amongst others introduced new and modern risk & liquidity management tools and structures. Under his leadership, Latvijas Gāze successfully refinanced a 50 million EUR overdraft facility and improved the effectiveness of the company’s financial planning processes.

Mr. Gröblinghoff also took an active role in the development of a unified Baltic natural gas market and represented Latvijas Gāze at the industry association Eurogas in Brussels.

Aigars Kalvitis, Chairman of the Management Board stated: “We thank Mr. Gröblinghoff for his outstanding contribution to the development of Latvijas Gāze during the past almost four years. We regret his decision to leave Latvijas Gāze and wish him every success for his future endeavors.”

Mr. Gröblinghoff will seize a new position in the energy sector outside of Latvia.

Before joining Latvijas Gāze in 2016, he was a Vice-President Gas Supply & Origination at Uniper SE. Previously he held different expert and senior leadership positions at German E.ON Group. In addition, Sebastian Gröblinghoff has worked as consultant at Towers Perrin Management Consultants with focus on the financial services industry.

The Council of AS Latvijas Gāze will soon initiate a selection procedure for a new Member of the Management Board of AS Latvijas Gāze.

Management Board of JSC Latvijas Gāze

Further information:

investor.relations@lg.lv

+37167374369

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