Latvia, Legislation, Markets and Companies, Telecomunications

According to Karklins, Brazovskis' candidacy was approved by both the LPA and the other Lattelecom shareholder, Tilts Communications AS (Tilts). Brazovskis will officially take the post after the changes in Lattelecom council makeup are registered with the Register of Enterprises.

As reported, the LPA informed Nozare.lv last week that, in accordance with agreement reached with Tilts on reducing the number of Lattelecom council members, the nominations committee had recommended approving four Latvenergo council members instead of six. Therefore the number of Lattelecom council members will be reduced from eleven to seven: the Latvian side will be represented by four council members, Tilts – by three council members.

The nominations committee assessed the competence of Lattelecom council candidates and agreed that it is necessary to supplement the competence of current council members Gatis Kokins and Janis Grevins in technologies and company management by attracting specialists with in-depth knowledge of financial management. The committee turned to the nine sectors' associations, asking them to propose nominate candidates with experience in financial management. All candidates were assessed and Brazovskis and Baltic Institute of Corporate Governance representative Justin Bancroft were recognized as the most suitable ones.

Brazovskis has significant experience in financial and corporate management. He was the Financial and Capital Market Commission's deputy chairman from 2000 to 2012. Before that, he worked at the Bank of Latvia.

Bancroft is an experienced auditor. He has been a partner of Deloitte CIS and Deloitte Ukraine.