Corporate Governance of APB Apranga (further – the Company) is divided among General Meeting, the Board, and Company’s CEO. The principles of corporate governance in APB Apranga are compiled according to international standards and the Law of the Republic of Lithuania on Companies.
General Meeting |
![]() |
Management Board: 6 members |
![]() |
The CEO of the Compny |
The utmost decision-making power in APB Apranga is held by the General Meeting. The General Meeting elects members of the Board, confirms the Statutes of the Company, yearly financial statements. It also takes decisions on formation, increase, or decrease of Company‘s shareholder equity. The right to attend and vote at the General Meeting have all legal and natural persons, which are the shareholders of the Company, or are delegated by the shareholders of the Company, or have made an agreement of transfer of voting rights. Unless they are shareholders of the Company, the Board, the auditor, and the Company CEO have a right to participate and speak in the General Meeting, but only as an adviser, not the decision-maker.
The Management Board is elected by the General Meeting. It consists of 6 members, at least 2 of which are independant. Management Board is elected for 4 years, without limitations on how many times a member can be re-elected, except fot statutory limitations. Only a natural person can be a Board member. The competence of the Board is defined as implied the Law of the Republic of Lithuania on Companies and Company Statue. The Board considers and approves:
Not less than 15 days before the General Meeting, the Board is obliged to prepare the Report on Company‘s Activities, in which the information is provided as defined by the Law of the Republic of Lithuania on Companies.
Besides that, the Board:
Full text of Articles of Association can be found here (translation into English)
Original copy of Articles of Association can be found here (in Lithuanian)
Members of the Management Board:
Read more about the chairman and members of the Board of Directors...
The CEO of the company (the General Director) is elected and recalled by the Board. The salary, responsibilities, motivation and penalties for the CEO of the Company are at the discretion of the Board as well. The major responsibility of the CEO of the Company is to organize the daily activities of the Company. The CEO of the Company acts on behalf of the Company and is entitled to enter into the transactions at his own discretion, unless such transactions are subject to approval of the Board or the General Meeting.
General Director of the Company: Rimantas Perveneckas
Read more about the Top Management of the company...
Apranga Group is the retail clothing leader in the Baltic States, so we understand that we are responsible for our actions that affect our employees, customers, shareholders, the public, and the environment around us. In all of the markets where we operate, we conduct our business in an honest, transparent and responsible manner, comply with all applicable legislation and high standards of business ethics, and adhere to the Code of Ethics and Conduct, which entrenches the basic principles we follow to ensure honesty, transparency and accountability within the Apranga Group of companies.
READ MORE ABOUT CODE OF ETHICS AND CONDUCT
Remuneration policy of the Company was approved on the day of the General Meeting of Shareholders on 30 April 2020 (and partly amended by the decision of General Meeting of Shareholders on 29 April 2021).