Shareholders of "Rīgas siltums" rejected the idea of the Ministry of Economics to dismiss the company's board leaders at a meeting on Monday, according to a post by Minister of Economics Viktor Valainis on the social network X.
The Ministry of Economics wanted to dismiss the chairman of the board, Evgeny Belezak, and his deputy, Gatis Sniedzinsh. Valainis noted that the ministry will again propose the dismissal of the entire board of the company. The board also includes members Martins Lazdovskis, Arturs Veits, and Matiss Paegle.
As previously reported, the Ministry of Economics demanded to convene a shareholders' meeting, calling for the dismissal of the members of the "Rīgas siltums" board. According to the ministry, the company's board has shown insufficient initiative and ambition, failing to take timely action to prevent an increase in heating tariffs.
Earlier in the summer, the plans of "Rīgas siltums" to raise heating tariffs in the capital in the fall were criticized.
The turnover of the "Rīgas siltums" group in the first half of the financial year (from October 1, 2024, to March 31, 2025) amounted to 189.28 million euros, which is 12% less than in the same period a year earlier, however, the group's profit increased by 31.7% to 33.38 million euros.
"Rīgas siltums" is one of the largest suppliers of thermal energy in Riga. The company's capital is 49% owned by the Riga City Council, 48.99% by the state, 2% by SIA "Enerģijas risinājumi. RIX", and AS "Latvenergo" owns 0.005% of the shares.
Who among them voted against the idea of the Ministry of Economics is not disclosed.
UPDATED: In a broadcast of Latvian television, the chairman of the Riga City Council, Viesturs Kleinbergs, confirmed that an agreement has been reached to fully replace the board of the "Rīgas siltums" company in the near future.
"We proposed to dismiss the entire board, however, we could not reach an agreement on this, as the Ministry of Economics was only willing to dismiss two members, without explaining why these particular ones," said Kleinbergs.
He added that an agreement has been reached to establish new tasks for the board within a month, including clearly defining the goal — reducing tariffs, as well as announcing a competition for the positions of board members in the near future.
Leave a comment