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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 08:52

Baiba Rubesa resigns as the CEO and Chairperson of the Management Board of RB RAIL

BC, Riga, 27.09.2018.Print version
Today, 27 September 2018, Baiba A. Rubesa, CEO and Chair of the Management Board of the Baltic State's joint venture RB RAIL AS, submitted a resignation letter to the Supervisory Board of the joint venture, effective immediately, informed the representative of Rubesa.

Since October 2015 Rubesa has been acting as a Chairperson of the Management Board and CEO of RB RAIL AS – a joint venture founded by Estonia, Latvia and Lithuania to implement the most significant railway infrastructure project in the region, namely Rail Baltica. October 28 this year was set as the official deadline for her term of office as the Management Board members are elected for a term of three years.


In her resignation letter submitted today to the Supervisory Board of RB RAIL AS, Rubesa has provided an extensive and detailed explanation behind her resignation, based on the different and irreconcilable vision for further project management and implementation model.


“In the past three years it has been a profound honour and unique professional experience to be charged with establishing a new institution, the joint venture RB RAIL AS, to deliver the Rail Baltica Global Project as a cross-border infrastructure project of strategic importance to the European Union and North East Europe, especially Estonia, Latvia and Lithuania.


The issues of the current organization model of the project in which I am forced to operate is blatantly contrary the principles of good corporate governance. The conflicts of interests encapsulated in the very roots of the project are the main reason behind the actions and/or inactions of all involved parties. It is not compatible with my faith and belief in fair and responsible project implementation.


The current “de facto” Rail Baltica Global Project governance as executed by the Beneficiaries and Shareholders is neither manageable nor sustainable to deliver a new economics and security corridor with infrastructure that has a commitment of 85% financing from the European taxpayer. Despite continuous discussions with Beneficiaries and Shareholder representatives for over a year, the company still faces a lack of common commitment to a sustainable financing model for the joint venture as well as for the Global Project", said Rubesa.


“I thank the Management Board and the entire staff of RB RAIL for their commitment above and beyond the call of duty to deliver on the project activities as agreed in the past three Connecting Europe Facility (CEF) grant agreements. Together we have forged a strong vision for Rail Baltica as a future driven, innovative new economic corridor and have started to deliver on this vision.”


“I am also grateful to the European Transport Commission (DG Move) for their sustained and unwavering support for the project, to myself and for sharing a common vision of the project – to build a new economic corridor in North-East Europe. I have no doubt that their deep engagement and support for the joint venture ensured the Rail Baltica Global Project could come as far as it has.”

 






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