Latvijas Kuģniecība
THIS COMPANY IS PART OF VENTSPILS NAFTA GROUP THIS COMPANY IS PART OF VENTSPILS NAFTA GROUP
 
 

Management  Structure

 

The management body of JSC Latvian Shipping Company is the shareholders’ meeting, Supervisory Council and Management Board.

Shareholders’ meeting

Only the company’s shareholders` meeting has the right to decide on the company’s annual report; utilisation of profit of the previous operating year; election and dismissal of the Supervisory Council members, auditors, the company’s controllers and liquidators; amendments to Articles of Association; increase or reduction in the share capital; issue and conversion of the company’s securities; termination, continuation or reorganisation of the company’s operation, as well as to decide on other matters prescribed by law.

Supervisory Council

The Supervisory Council is the company’s supervising institution, which represents the interests of shareholders between meetings and supervises the operation of the Management Board within the framework fixed by law and the Articles of Association. The Supervisory Council acts in accordance with the Articles of Association and the Regulations of the Supervisory Council, and its tasks include election and dismissal of Management Board members, supervision of the Management Board’s activities; reviewing of the company’s annual report and the Management Board’s proposal for utilisation of profit etc.

Management Board

The company’s executive body is the Management Board, which represents and manages the company, and is responsible for its business activity and compliance of the company’s accounting with the law. The Management Board manages the company’s property and resources in accordance with the law, the company’s Articles of Association, and resolutions adopted by the Shareholders’ Meeting and the company’s Supervisory Council.