Estonia, EU – Baltic States, Latvia, Lithuania, Railways, Transport
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Friday, 29.03.2024, 08:52
Baiba Rubesa resigns as the CEO and Chairperson of the Management Board of RB RAIL
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.”