Baltic Corporate Excellence Award

Where the Excellence Awards began. Since 2008, the Baltic CEA has recognised the listed companies and bond issuers of Estonia, Latvia and Lithuania that turn quality into a measurable track record.

The Baltic Corporate Excellence Award is the first of the Excellence Awards. It was launched in 2008 by Alphinox in Riga with a straightforward ambition: to challenge Baltic exchange traded companies to measure themselves against an objective investor definition of quality and to make the results public.

The idea proved to travel. In 2010 the analysis was extended to a pan-European universe, and in 2014 to a global one, growing into the Corporate Excellence Award that Hérens Quality Asset Management presents today across the world’s major markets. The Baltic edition remains its home market: the same single, equal-treatment methodology, applied to the region where it was first proven.

Today the award is prepared by Alphinox one of the largest financial analyst teams in the Baltics – in partnership with Hérens Quality Asset Management and Riga Technical University, with the final selection made together with a panel of local market experts.

2008

First Baltic Corporate Excellence Award. Exchange-traded companies in Estonia, Latvia and Lithuania are ranked on quality for the first time.

2010

The same method is extended to a pan-European universe of companies.

2014

Global coverage. The Corporate Excellence Award takes its present form across the world’s major markets.

Recent Winners

1st Place – kjlkfj

Austria

Verbund AG

Energy

Belgium

Evs Broadcast Equipment SA

Telecommunications Equipment

UK

Games Workshop Group Plc

Tabletop miniature gaming

Denmark

Genmab A/S

Pharmaceuticals and Biotechnology

Finland

eQ OYJ

Bank

France

Hermes International SA

Luxury Goods

Germany

Rational AG

Combi steamers, ovens & cooking appliances

Italy

Diasorin SpA

Medical Equipment and Services

Netherlands

ASM International N.V.

Technology Hardware and Equipment

Norway

Medistim ASA

Medical aquipment & technology

Spain

Faes Farma SA

Pharmaceutical industry

Sweden

Biogaia AB

Pharmaceuticals and Biotechnology

Switzerland

Belimo Holding AG

Construction and Materials

USA

Lattice Semiconductor Corp

Technology

Australia & New Zealand

Fortescue Ltd

Renewable energy

Japan

Shionogi & Co Ltd

Pharmaceutical products

South Korea

Krafton Inc

Gamesoftware development

China & Taiwan

eMemory Technology Inc

Logic-based non-volatile memory (Logic NVM) technology)

Austria

Wieneberger AG

Building materials

Belgium

Melexis NV

Semiconductors

UK

Games Workshop Group Plc

Tabletop miniature gaming

Denmark

Chemometec A/S

Medical Equipment and Services

Finland

eQ OYJ

Bank

France

Hermes International SA

Luxury Goods

Germany

Rational AG

Combi steamers, ovens & cooking appliances

Italy

Pharmanutra Spa

Pharmaceuticals and biotechnology

Netherlands

BE Semiconductor N.V.

Semiconductor

Norway

Medistim ASA

Medical aquipment & technology

Spain

Faes Farma SA

Pharmaceutical industry

Sweden

Mips AB

Safety for helmets

Switzerland

Partners Group AG

Financial services

USA

Vertex Pharmaceuticals Inc

Pharmaceuticals and biotechnology

Australia & New Zealand

Fisher & Paykel Healthcare

Healthcare equipment

Japan

Obic Co.

Information technology

South Korea

Samsung Electronics Co. Ltd.

Electronics

China & Taiwan

eMemory Technology Inc

Logic-based non-volatile memory (Logic NVM) technology)

Austria

Austrian Post

Mail delivery

Belgium

Melexis NV

Semiconductors

UK

Games Workshop Group Plc

Tabletop miniature gaming

Denmark

Simcorp A/S

Software

Finland

Revenio Group OYJ

Health technology

France

Hermes International SA

Luxury Goods

Germany

Rational AG

Combi steamers, ovens & cooking appliances

Italy

Moncler Spa

Clothing

Netherlands

ASM International NV

Equipment for the semiconductor industry

Norway

Medistim ASA

Medical aquipment & technology

Spain

Voscofan SA

Food products

Sweden

Mips AB

Safety for helmets

Switzerland

Partners Group AG

Financial services

USA

Marketaxess Holdings Inc

Financial technology

Australia & New Zealand

Fisher & Paykel Healthcare

Healthcare equipment

Japan

Nintendo Co Ltd

Platform Technology Development

South Korea

Samsung Electronics Co. Ltd.

Electronics

China & Taiwan

eMemory Technology Inc

Logic-based non-volatile memory (Logic NVM) technology)

Austria

Mayr-Welnhof Karton AG

Carton Boards

Belgium

Melexis NV

Semiconductors

UK

Games Workshop Group Plc

Tabletop miniature gaming

Denmark

Chemometec A/S

Automatisierte Zellzähler und Analysegeräte

Finland

eQ OYJ

Bank

France

Hermes International SA

Luxury Goods

Germany

Rational AG

Combi steamers, ovens & cooking appliances

Italy

Diasorin Spa

Laboratory diagnostics

Netherlands

ASM International NV

Equipment for the semiconductor industry

Norway

Medistim ASA

Medical aquipment & technology

Spain

Zardoya Otis SA

Elevators, Escalators and Moving Walkways

Sweden

BioGaia AB

Probiotic products

Switzerland

Ems-Chemie Holding AG

Specialty Materials

USA

Marketaxess Holdings Inc

Finanial technology

Australia & New Zealand

Fisher & Paykel Healthcare

Healthcare equipment

Japan

Shionogi & Co Ltd

Pharmaceuticals

South Korea

NCSoft Corp.

Video game developer

China & Taiwan

TSMC Ltd.

Baltics

Telia Lietuva AB

Telecommunications

Austria

Wieneberger AG

Building materials

Belgium

Melexis NV

Semiconductors

UK

Games Workshop Group Plc

Tabletop miniature gaming

Denmark

Chemometec A/S

Medical Equipment and Services

Finland

eQ OYJ

Bank

France

Hermes International SA

Luxury Goods

Germany

Rational AG

Combi steamers, ovens & cooking appliances

Italy

Pharmanutra Spa

Pharmaceuticals and biotechnology

Netherlands

BE Semiconductor N.V.

Semiconductor

Norway

Medistim ASA

Medical aquipment & technology

Spain

Faes Farma SA

Pharmaceutical industry

Sweden

Mips AB

Safety for helmets

Switzerland

Partners Group AG

Financial services

USA

Vertex Pharmaceuticals Inc

Pharmaceuticals and biotechnology

Australia & New Zealand

Fisher & Paykel Healthcare

Healthcare equipment

Japan

Obic Co.

Information technology

South Korea

Samsung Electronics Co. Ltd.

Electronics

China & Taiwan

eMemory Technology Inc

Logic-based non-volatile memory (Logic NVM) technology)

Jury Members

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Dr. Julia Bistrova

Dr. Valbona Dhjaku, University of Tirana

Dr. Dhjaku has spent more than 25 years working in information technology within the banking industry. As IT Manager at Credins Bank, she has led a number of digital transformation projects.

She holds a PhD in Informatics from the University of Tirana, where she has also taught computer science for over 20 years.

Colinne Bartell

Colinne Bartel studied Political Science at the University of California, Los Angeles, with a focus on Russian history, and went on to complete a Master of Arts in International Relations at Claremont Graduate School.

She holds a dual MBA in Finance and Strategy from the Peter F. Drucker School of Management and EDHEC Business School. Dr. Jonah M. Otto

Dr. Katharine Wirsching

Dr. Wirsching is an Assistant Professor at the Chair of Management and Organization at the University of Augsburg. Her research covers entrepreneurial ecosystems, corporate governance and innovation in family firms, female and immigrant entrepreneurship, and public policy.

She is also a senior research fellow at the Institute for Development Strategies at Indiana University’s School of Public and Environmental Affairs.

Dr. David A. Bell, Ph.D.

Dr. Bell is a faculty member at the Paul H. O’Neill School of Public and Environmental Affairs. He earned his PhD in public and international affairs from the University of Pittsburgh, where he also completed an MPA focused on nonprofit and NGO management, and studied public affairs management at Michigan State University.

His research covers leadership and accountability in public organisations, entrepreneurship and capital flow in developing countries, programme evaluation, nonprofit management and cross-sector collaboration. He brings extensive management and executive experience from civil society organisations working in human services and banking.

Prof. Dr. David Sprott

Prof. Sprott is the Henry Y. Hwang Dean and a professor of marketing at the Drucker School of Management. Before joining Drucker, he served as professor of marketing and dean of the College of Business at the University of Wyoming, and spent more than two decades on the faculty at Washington State University, where he held the Boeing/Scott and Linda Carson Chair of Marketing.

His research covers retailing, branding, influence strategies and marketing public policy, and has appeared in journals including the Journal of Consumer Research, Journal of Marketing and Journal of Retailing. He co-edited the Handbook of Research on Customer Engagement and holds a PhD in Marketing from the University of South Carolina.

Dr. Ryan C. Bailey, Ph.D., PMP®, CCMP™

Dr. Bailey is an Assistant Professor of Entrepreneurship and Strategic Change at the University of Wyoming, bringing more than twelve years of industry experience across the government, healthcare, communication, retail and energy sectors.

A certified Project Management Professional and one of the first 500 practitioners worldwide to become a Certified Change Management Professional, he has consulted on corporate and social entrepreneurship initiatives for NGOs and Fortune 500 companies. His research looks at how firms and entrepreneurs create positive change, with a focus on social and commercial entrepreneurship and civic wealth creation.

Dr. Steven H. Corey

Dr. Corey is Professor of History and Dean of Academic Operations and Programming at Columbia College Chicago, where he oversees academic programmes and curriculum. He previously served as Dean of the School of Liberal Arts and Sciences and chaired departments at Columbia and at Worcester State University.

His research and teaching focus on environmental and urban history and public policy. He is co-author or co-editor of six volumes, most recently America’s Urban History (2024) and Coastal Metropolis: Environmental Histories of Modern New York City (2021), and completed his doctorate at New York University on the history of solid waste management in New York City.

Prof. Dr. Ralf Frank

Dr. Frank is Managing Partner at Sustainserv, a sustainability consulting firm with offices in Zurich, Frankfurt and Boston. He previously spent nearly 20 years as Managing Director of the German Association of Investment Professionals and sits on the board of BAUM, a German business network of more than 850 corporate members working towards a socio-ecological market economy.

He is Professor of Organizational Transformation at GISMA University of Applied Sciences in Potsdam, teaching ESG risk, compliance and sustainable management. His expertise covers sustainability transformation and ESG risk analysis.

Dr. Jonah M. Otto, MPA

Dr. Otto is an assistant professor at the University of Augsburg, where his research and teaching sit at the intersection of international relations, globalisation, higher education and economic development. He also leads internationalisation and incoming exchange for his faculty.

Before moving to Germany, he worked for the U.S. Department of State in Edinburgh and served as assistant director of international programs at Indiana University. He holds a Master of Public Affairs from Indiana University.

Dr. Anna Klis, University of Northern Illinois, Economics Department

Dr. Klis is an Associate Professor in the Economics Department at Northern Illinois University and a Faculty Associate of its Institute for the Study of the Environment, Sustainability, and Energy. She completed her PhD at the University of Texas at Austin, specialising in game theory and microeconomic theory.

Her research focuses on environmental externalities and international agreements, particularly how the structure of an agreement shapes its membership and effectiveness. She serves as Managing Editor of the Agricultural and Resource Economics Review.

Olivier P. Müller-Independent Investment Advisor

Olivier P. Müller works as an independent investment advisor, following a role in fund structuring and development. He spent nearly two decades at Credit Suisse in senior positions across investment solutions and equity research, as well as portfolio management, trading and sales, product management and investment strategy.

His expertise covers the full investment value chain, with a particular focus on equities and multi-asset portfolios. He holds an MSc in Business and Economics and is a CFA Charterholder, with CAIA, CIPM and FRM designations.

Dr. Louis Patrick Leroux, Saint Paul University,Ottawa-Canada - President

Louis Patrick Leroux is the President of Saint Paul University in Ottawa, Canada. Previously, he was at Concordia University in Montreal for twenty years, where he was a professor in both departments of English and Études françaises as well as Associate Dean of Research for the Faculty of Arts and Science. He has been a visiting scholar at Duke University, Universidad de Chile, University of Milan-Bicocca, Charles University in Prague, and École normale supérieure de Lyon. Throughout the 1990s, he founded and led Ottawa’s Théâtre la Catapulte and later cofounded La nouvelle scene theatre space. A playwright and scholar, he has written on the research-creation process, organisational management in the arts, Québec theatre and contemporary circus.

Alberto Cominetti, partner Zwei Wealth and board member of the Synapsis Foundation

Alberto Cominetti is a partner at ZWEI Wealth, where he advises families, foundations and pension plans on ESG, and a partner at Consulta, advising SMEs on ESG and sustainability. He has worked in wealth management for 25 years, in both leadership and consulting roles across domestic and international markets.

His approach is grounded in the ESG principles and the UN Sustainable Development Goals, with ethics and social responsibility at its centre. He holds a Master’s degree in Banking and Finance from the University of Zurich and serves on the board of the Synapsis Foundation, which funds research into Alzheimer’s and related neurodegenerative diseases.

Kaddu Kiwe Sebunya, CEO African Wildlife Foundation

Kaddu Kiwe Sebunya is a prominent figure in the realm of conservation, celebrated for his visionary leadership and steadfast dedication to protecting Africa’s wildlife and wilderness areas. Since assuming the CEO role at the African Wildlife Foundation (AWF) in 2019, he has played a pivotal role in steering the organization towards a new era of conservation excellence, shaping its strategic direction and fostering multi-sectoral collaborations.

With a career spanning over three decades across the USA, Africa, and Europe, Kaddu has held various positions at grassroots, national, and regional levels. Before becoming CEO, he served as AWF’s President, showcasing exceptional leadership and a profound passion for conservation. At the heart of his mission lies a vision for a modern Africa where wildlife and wilderness flourish as essential components of human development, cultural heritage, and economic prosperity.

Under Kaddu’s guidance, AWF has emerged as a leading advocate for African conservation, advocating for the continent’s natural heritage on both local and global platforms. He led the unveiling of a groundbreaking 10-year strategic vision in 2020, emphasizing the coexistence of wildlife conservation with sustainable progress. Kaddu’s leadership extends beyond AWF, as he actively engages with diverse stakeholders and prestigious networks to elevate African voices in the global conservation discourse and foster collaboration for regional conservation efforts.

Dr. Bernd Villhauer, Managing Director – Weltethos-Instituts

Dr. Villhauer has been Managing Director of the Global Ethic Institute since 2015. He studied philosophy, ancient history and art history at the universities of Freiburg, Jena and Hull, and worked in publishing and media before moving into his current role, most recently as head of editing at the Narr Francke Attempto publishing group.

He heads the Lab for Good Leadership at the European School of Governance and the research group on Finance and Economics at the Global Ethic Institute, and co-founded the Institut für Praxis der Philosophie in Darmstadt. His work focuses on sustainable finance, monetary theory and financial ethics, and he is the author of several books on the subject.

Dr. Shana McDermott, University of Missouri-Senior Economist

Dr. McDermott is an economist with nearly fifteen years of experience in environmental and natural resource economics. Her research has been recognised internationally and honoured with five awards for scientific contribution, and she has collaborated with global institutions including the UN on resource management policy.

She teaches undergraduate and graduate economics, serves as a reviewer and editor for academic journals, and has sat on several nonprofit boards. Making nature accessible to all is a commitment that runs through her work.

Prof. Dr. Eglantina Kalluci - University of Tirana, Dean of the Faculty of Natural Sciences

Prof. Dr. Kalluci is Dean of the Faculty of Natural Sciences at the University of Tirana. She has published more than 20 academic articles and belongs to several international associations in the field of mathematics.

Her doctoral work addressed the numerical solution of polynomial equations, including cases with multiple roots, and its implementation across a cluster of processors. Her recent research applies supervised and unsupervised machine learning to the study of the human microbiome.

Stefan R. Haake, MS.C - Conference of European Rabbis, CFO & Director of Development

As the CFO at CER, a leading non-profit organization that represents over 700 European rabbis, I oversee the financial management and strategic planning of the organization, ensuring compliance with regulatory and ethical standards. I also lead the development division, which is responsible for fundraising, donor relations, and estate planning for the organization’s foundation.

With a Master of Science in Leadership and Strategic Management from UCM and a certification as a Crypto Finance Expert (SAQ), I bring a unique combination of skills and expertise to the CFO role. I have over two years of experience as the COO and CPO of a blockchain banking startup, where I managed the operations and product development of a digital asset platform that was licensed as an outsourced banking service under § 25c KWG. I also have extensive knowledge and experience in estate planning and foundation management, having completed several courses and certifications in this field.

Collins Busuru - Executive Director, Kang4Nature

Collins Busuru is a wildlife conservationist and environmental advocate with more than five years of experience in community engagement, reforestation and biodiversity research. He previously served as CEO of CHD Conservation Kenya, leading community-led programmes to restore the Amboseli ecosystem.

As founder of Kang4Nature, he leads a youth-led organisation with 1,800 members across eleven Kenyan universities, which has grown more than 80,000 trees in Nairobi National Park and Karura Forest. His work centres on nature-based solutions to climate change, conservation education and the protection of vulnerable species such as the Maasai giraffe.

Hannah Oh - Founder of Article 6 Advisory & Co-Founder of IXO

Hannah Oh spent more than 15 years in commercial and sustainability leadership roles at Bayer across Asia, Europe and the USA, including Head of Marketing Excellence in Asia, Global Sales and Operations Lead, and Head of International Engagements for Water, where she built global partnerships around water conservation.

She now leads Article 6, a farm to fork and carbon market advisory and investment company, and is co-founder and investor at IXO, which uses blockchain and causal AI to deliver real-time measurement, reporting and verification for carbon and social impact credits. She holds a BA in Economics and Asian Studies from Macalester College and studied sustainability at the University of Cambridge. In 2023 she was named among Singapore’s top 30 Women of Power.

Željko Drinčić, President Montenegro Capital Market Authority

Zeljko Drincic is Chairman of the Capital Market Authority of Montenegro, the independent regulatory body responsible for supervising the issuance and trading of securities. The Authority operates in line with the principles of the International Organization of Securities Commissions, the EU legal framework and the rules of the European Securities and Markets Authority.

Under its mandate, the Authority is a signatory to the ESMA Memorandum of Cooperation for alternative investment funds, which governs supervisory cooperation and the exchange of information with EU competent authorities. It is autonomous in its work and accountable to the Assembly of Montenegro, which appoints its five members.