The position of independent board member is open to 100 candidates per seat
What are the most tempting and what are the risks that candidates don't appreciate?
Up to 100 people in one place. That’s how many people can apply for the position of independent board member.
A recent event organised by us and NOOR shows that this position is tempting. There were so many people who wanted to participate that we had to change the planned venue.
The same goes for running for a board seat: you have to be prepared for a lot of competition.
Maybe that is one of the reasons to go there. Being on the Board is the zenith of your career. The bar is set high. So when you pass it, there is clear recognition from the market that you are an unrivalled leader and expert in your field. Here are some more of Laura’s thoughts:
What else is attractive?
● No operational activities (unlike CEO)
● Work in large, large, influential companies (of the State-owned companies, 7 are in the TOP50 taxpayers).
● Opportunity to work with strategic sectors (railways, postal, energy, etc.)
● Imaginable low workload
How to get in?
● In state-owned enterprises – public tenders, clear competences, impeccable reputation. There is a competition, often short, several stages, with a jury.
● In private business, trust and familiarity are the cornerstones. That’s why networking and expert communication are crucial.
If you are a woman, are you more or less likely to get in?
More.
There are far fewer women candidates, and there is increasing regulation to have balanced representation on boards.
By 30.06.2026, the requirement to have brought this proportion down to at least 33%, i.e. one third, comes into force.
Today, around 30% of boards are female, while only 8% of chairpersons are women.
What is not appreciated by those who want to join the Board?
● Time. It takes more than the formal one meeting a month. Especially if you want to make a difference.
● Risks. Because you are liable for your personal assets.
● Conflict of interest (you want the experience to be close, but in some cases it is too connected).
● Interference from politicians or shareholders. After all, these are state-owned companies operating in strategic, important and at the same time highly sensitive areas.
● Remuneration. For independent board members of state-owned companies, the remuneration ranges from €850 to €3,000/month. Chairman’s about 1.3 times the global practice – at least 2x). On the other hand, in Lithuania this is not the main motivator for joining the board.
Thank you to everyone who shared their varied experiences on the boards of different organisations:
👏 Dalia Andrulionienė
👏 Gerimantas Bakanas
👏 Jurgita Petrauskiene
👏 Antanas Sagatauskas
👏 Valdas Vitkauskas
👏 Andrej Cyba
Agnė Jonaitytė, who talked about the Board’s responsibilities after the honeymoon, and Daiva Ušinskaitė – Filonovienė, who moderated the event. 👏
