News

The newly composed boards of LTG Cargo, LTG Infra and LTG Link, the subsidiary companies of Lietuvos Geležinkeliai (LTG), have been approved. 

With a view to apply good governance practices and to foster excellence in governance, from 2023 the boards of LTG subsidiaries are composed of five members to include two members delegated by the holding company, two independent members and one civil servant.

“The contribution of our subsidiaries is crucial to the transformation of the LTG Group and with a view of adapting to fundamental changes in the business environment. With the new composition of the boards of the subsidiaries, we will inject still more expertise into governance. I believe they will provide valuable input towards operational efficiency improvement, business diversification, expansion into new markets and achievement of other ambitious objectives,” says Egidijus Lazauskas, CEO of LTG.

A. Ūkeniekas and V. Rakovski to serve on the Board of LTG Cargo

Arnoldas Ūkeniekas and Vitalij Rakovski will take up their duties as independent members on the Board of the freight company LTG Cargo.

A. Ūkeniekas has accumulated extensive experience from logistics companies and currently works as Business Development Manager at the logistics company Hegelmann Group. V. Rakovski is the current CEO of Novaturas Group, with previous experience of working on projects of strategic importance at the energy group Ignitis and Maxima Grupė.

The Board will also include Vytautas Radzevičius, LTG Director of Strategy and Business Development, and Irena Jankutė-Balkūnė, LTG Director of People and Culture.

The selection of a civil servant to the post of a member of the Board of LTG Cargo was re-announced.

R. Rimkus, G. Almantas, H. Nausėda to join the Board of LTG Infra

The duties of independent board numbers of the LTG Group’s company LTG Infra, responsible for rail infrastructure management and maintenance, will be taken up by Gediminas Almantas and Haroldas Nausėda.

G. Almantas has sound expertise from communications and energy sectors and currently serves as an independent member on the Boards of the companies such as Lietuvos Oro Uostai, Oro Navigacija, and EPSO-G, ACI Europe. H. Nausėda currently holds the post as independent board member at the companies Ignitis

Eesti OU and Ignitis and is Chairman of the Board of the company Ignitis Suomi Oy. He has significant experience in leading international teams and energy projects management.

Ramūnas Rimkus, currently holding the office of Head of Strategic Planning Division of Budget and Investment Department at the Ministry of Transport and Communications, will take up the duties of a board member–civil servant at LTG Infra.

The Board of LTG Infra will also include Ieva Lauraitytė, LTG Head of Administration, and Sigitas Kubilis, LTG Project and Investment Management Expert.

A. Gasiūnienė, A. Kazlauskienė and V. Bachmetjevas to start serving on the Board of LTG Link

Aurelija Kazlauskienė, the current Strategic and Commercial Director at Lietuvos Draudimas, and Viktoras Bachmetjevas, in the present post of Chairman of the Board at the municipal enterprise Susisiekimo Paslaugos, will serve as independent members of the Board of the passenger transportation company LTG Link.

A. Kazlauskienė has extensive and valuable experience in the fields of branding, change management, sustainability, customer experience management and development of new services and products. V. Bachmetjevas is a professor at Vytautas Magnus University, with extensive wealth of experience in leadership and implementation of strategic goals at a wide range of companies.

Aistė Gasiūnienė, who currently works as Senior Adviser of Future Transport Policy Group at the Ministry of Transport and Communications, will take office as board member–civil servant at LTG Link.

The Board of LTG Link will also include Irmantas Beržauskas, LTG Legal and Governance Director, and Andrej Kosiakov, LTG Chief Financial Officer.

The selection was performed by the Commission

The selection of board members from the proposed candidates was carried out by the Commission composed of the representatives from the Ministry of Transport and Communications, the Governance Coordination Centre (GCC) founded by the Government and LTG. The MasterClass Lietuva executive search team assisted in finding the best fit candidates for the role of independent board members.

Before the end of this year, the Boards of the subsidiaries had the members delegated by the shareholder, i.e., the holding company LTG.

The LTG Group consists of five directly controlled companies: LTG Cargo, LTG Link, LTG Infra, Geležinkelio Tiesimo Centras, Rail Baltica Statyba. The Boards have been established in the three companies, i.e., the freight company LTG Cargo, the passenger transport operator LTG Link and the infrastructure manager LTG Infra. LTG owns 100% shares of these companies.

LTG is the largest state-owned group of companies focussing in its business activities on the three main areas such as freight and passenger transportation by rail, and public railway infrastructure management, maintenance and development in the Baltic States.