Rail Baltica’s man­age­ment picks Ig­nas Degutis as in­terim CEO

Baltic News Network - - News -

The su­per­vi­sory board of RB Rail has picked the com­pany’s fi­nance di­rec­tor and board mem­ber Ig­nas Degutis as Baiba Rubesa’s re­place­ment as the in­terim CEO of the com­pany, as con­firmed by the de­ci­sion made by Rail Baltica su­per­vi­sory coun­cil.

This de­ci­sion was made af­ter the res­ig­na­tion let­ter from Baiba Rubesa was re­ceived. Degutis joined RB Rail AS as Chief Fi­nan­cial Of­fi­cer and was ap­pointed as Mem­ber of the Man­age­ment Board on April 24, 2017.

Degutis led the Eco­nom­ics di­vi­sion at Klaipedos Nafta AB and over­saw the fi­nanc­ing scheme of the LNG ter­mi­nal de­vel­op­ment project in Klaipeda that in­volved fund­ing from credit fa­cil­i­ties, gas sec­tor reg­u­la­tory en­vi­ron­ment and EU grants. His pro­fes­sional record also in­cludes trans­ac­tion and risk ad­vi­sory ser­vices at Ernst & Young as well as other po­si­tions in telecom­mu­ni­ca­tions and in­sur­ance sec­tors. In 2015 Degutis joined the largest state owned en­ergy com­pany in Lithua­nia, Li­etu­vos En­ergija UAB, in or­der to plan, de­velop and im­ple­ment fi­nanc­ing schemes of the com­bined heat and power plants in Vil­nius and Kau­nas. Since Jan­u­ary 2016, Mr. Degutis has been serv­ing as Chief Fi­nan­cial Of­fi­cer for Vil­ni­aus ko­gen­erac­inė jė­gainė UAB, part of the Li­etu­vos en­ergija group, with a fo­cus on the im­ple­men­ta­tion of the Waste-to-en­ergy CHP and Biomass CHP project in Vil­nius.

«There is a po­ten­tial to ac­cel­er­ate the project im­ple­men­ta­tion. RB Rail con­tin­ues to work in full ca­pac­ity and is fo­cused on pro­gress­ing with the de­tailed tech­ni­cal de­sign for all sec­tions of the rail­way as well as fi­nal­is­ing the long-term busi­ness, op­er­a­tional and in­fra­struc­ture man­age­ment plans of Rail Baltica which will de­ter­mine the fu­ture suc­cess of the project», says Ig­nas Degutis.

He adds that Rail Baltica con­tin­ues work­ing on long-term fi­nanc­ing of the Rail Baltica Global Project and a sus­tain­able fund­ing for the joint ven­ture’s bud­get in 2019-2020.

Degutis also adds that the com­pany val­ues the con­tri­bu­tion Rubesa has pro­vided for the project’s de­vel­op­ment. «Dur­ing th­ese years Ms Rubesa has built a highly mo­ti­vated and knowl­edge­able team of pro­fes­sion­als at RB Rail AS and has put in place an ef­fec­tive and trans­par­ent or­gan­i­sa­tion and pro­cure­ment struc­ture,» he said.

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