RB Rail’s Lithua­nian and Es­to­nian share­hold­ers voice dis­trust to com­pany’s chair­per­son

Baltic News Network - - Front Page -

Dur­ing a meet­ing on Thurs­day, 1 Fe­bru­ary, Es­to­nian and Lithua­nian share­hold­ers of RB Rail voted in favour of dis­miss­ing the com­pany’s CEO and board chair­per­son Baiba Rubesa. Rep­re­sen­ta­tive of Lat­vian share­hold­ers, man­ager of Eiropas Dzelzceļa līni­jas (EDZL) An­dris Lin­užs ab­stained in the vote, as LETA was told by EDZL rep­re­sen­ta­tive Rita Voronkova.

She men­tioned that the com­pany’s coun­cil will have to make the fi­nal de­ci­sion on this mat­ted based on the will of share­hold­ers. Lat­vian Trans­port Min­is­ter Uldis Augulis says the de­ci­sion in re­gards to the board chair­per­son will have to be made by the com­pany’s coun­cil. This mat­ter was not viewed dur­ing the Thurs­day meet­ing. It is likely it will be dis­cussed dur­ing next week’s meet­ing, said Augulis.

When asked about the de­ci­sion made by share­hold­ers from other Baltic States, the min­is­ter men­tioned that Es­to­nian and Lithua­nian sides ex­plain their de­ci­sion with dis­sat­is­fac­tion with Rubesa’s work and dif­fer­ences of opin­ion in re­gards to the com­pany’s func­tion.

When asked about fu­ture ac­tions and man­age­ment of the com­pany, the min­is­ter al­lowed for the pos­si­bil­ity for mat­ters as­so­ci­ated with this sit­u­a­tion could be dis­cussed on the level of Baltic gov­ern­ments. When asked if a new man­ager for RB Rail is picked out in the event of Rubesa’s dis­missal, the min­is­ter men­tioned that dis­missal of the head of the com­pany is a prece­dent. In such a sit­u­a­tion, the com­pany will have to de­cide if it wants to re­main with the same three-per­son board or search for a new man­ager.

When asked if Lat­vian rep­re­sen­ta­tive’s de­ci­sion to ab­stain from the vote in­stead of vot­ing against could demon­strate in­suf­fi­cient sup­port for Rubesa from the Lat­vian state, Augulis strongly de­nied it.

Af­ter the meet­ing on Thurs­day, Rubesa re­fused to pro­vide LETA with com­ments on share­hold­ers’ de­ci­sion.

Lithua­nian news agency BNS, with ref­er­ence to un­of­fi­cial sources, re­ported in the evening on Thurs­day that RB Rail share­hold­ers had voted in favour of dis­miss­ing Rubesa. Ac­cord­ing to the source, opin­ions of all sides in man­age­ment and the man­ager dif­fered on cer­tain mat­ters.

Rubesa told BNS that she is not aware of the de­ci­sion made at the share­hold­ers’ meet­ing. She added that Li­etu­vos geležinke­liai or Rail Baltica statyba should be asked for com­ments.

«I have no com­ments to give, and I don’t know what hap­pened at the share­hold­ers’ meet­ing. I wasn’t present,» she said. Baiba Rubesa was elected the chair­per­son of the board of RB rail in Oc­to­ber 2015.


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