Today, on 29 January, the Supervisory Board of Latvenergo AS appointed Uldis Mucinieks as temporary Member of the Management Board, who will start the work on 1 February and will remain in office until the permanent composition of the Management Board is established. The Management Board of Latvenergo AS will continue to work in the following composition - Chairman of the Management Board of Latvenergo AS Guntars Baļčūns, Members of the Management Board Kaspars Cikmačs, Arnis Kurgs and Uldis Mucinieks.

Uldis Mucinieks has an Executive MBA degree from the Stockholm School of Economics in Riga, and a lawyer’s qualification from the University of Latvia. U.Mucinieks joined Latvenergo team as Sales Director in 2015, and since November 2020 he has been performing the duties of Chief Commercial Officer of Latvenergo AS. U.Mucinieks also performs duties of Chairman of the Supervisory Board of subsidiaries Elektrum Lietuva UAB and Elektrum Eesti OU. Under his leadership, the Group has successfully launched several new business segments – in the natural gas market, in trading of solar panels and other energy technologies, as well as in the Lithuanian electricity household market, ensuring growth of Group’s operations in the Baltics.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.