Klaipedos Nafta makes new audit committee appointments

Klaipedos Nafta, the operator of Lithuania’s only LNG import terminal, said it has appointed Laura Garbenčiūtė-Bakienė and Andrius Varanavičius as independent members of the audit committee. 

Klaipedos Nafta audit committee operates as an advisory body of the supervisory council of the company in the fields of internal control and operational risks management, with the aim of enhancing the efficiency of the operation, the company’s statement reads.

Laura Garbenčiūtė-Bakienė is a member of the supervisory council of the company Investicijų ir verslo garantijos, as well as the chair of the audit and risk committee of the state enterprise Ignalinos atominė elektrinė.

Her professional experience covers strategic planning, assessment of corporate operational efficiency in the fields of risk management and internal control, work with internal and external auditors and recommendations to the management, Klaipedos Nafta said.

Varanavičius has been working in the international group GlaxoSmithKline since 2001, and over the last five years, he has been the financial director of the German GlaxoSmithKline Gmbh & Co.

His professional experience covers activities in the fields of internal control, accounting, budget management, audit and risk management, as well as his competence in relation to companies’ compliance with requirements of the Sarbanes-Oxley Act (SOX) and financial management in line with the International Financial Reporting Standards (IFRS).