On 15 March, 2017 the Government agreed to the changes in legislation, proposed by the Ministry of Economy. The adopted changes shall ensure independent ant transparent activity of boards of directors and supervisory board members in State Owned Enterprises.
It is stipulated that at least half of the board members should comprise of independent board members and that politically appointed public servants (i. e. vice-ministers, advisors to the minister, etc.) may not become members of the board. Furthermore, the legislation is applicable not only to the selection of state enterprise board members, but also to the selection of boards of directors and supervisory board members of state owned limited liability companies. Another important aspect is that in the selection process HR agencies now may be employed.
In this way it is attempted to ensure the professionality and independence from the political influence of the board members as well as to implement the Organisation for Economic Co-operation and Development (OECD) recommendations to Lithuania regarding SOE governance improvement, which is important for the accession.
