Change made to supervisory board at RB Rail

Shareholders of the Rail Baltica joint venture, RB Rail AS, approved a new Supervisory Board of the company October 15.

The appointment follows the decision of the Estonian shareholder to replace Riia Sillave, CEO of RB Estonia with Ahti Kuningas, Deputy Secretary General for Transport at the Ministry of Economic
Affairs and Communication of Estonia.

According to the Commercial Law of Latvia, a new Supervisory Board must be appointed if a new member is appointed.

The new Supervisory Board of RB Rail AS includes the following members: Estonia: Ahti Kuningas, Deputy Secretary General for Transport at the Ministry of Economic Affairs and Communication of Estonia and Anti Moppel, Advisor to the Deputy Secretary General for Transport at Ministry of Economic Affairs and Communications of Estonia.
Latvia: Ligita Austrupe, Deputy State Secretary of Ministry of Transport of Latvia, Anri Leimanis, Vice-Chairperson of the Supervisory Board of Latvijas Mobilais Telefons.
Lithuania: Karolis Sankovski (Chairperson of the Supervisory Board), CEO of Rail Baltica
Statyba, and Romas Švedas, Chairman of the Board at AB Lietuvos Geležinkeliai.

The Supervisory Board of RB Rail AS consists of six members elected for a three-year period. Each shareholder – Estonia, Latvia and Lithuania – nominates two candidates who must be approved by a General Meeting of Shareholders. The Shareholder Agreement stipulates that, each year, the Supervisory Board is chaired by a representative of a different member state of the joint venture, on a rotating basis.

The Supervisory is separate from the Management Board, which has four members – Chairperson of the Management Board, Chief Financial Officer, Chief Operating Officer, and Chief Technical Officer, who jointly represent the joint venture. Management Board members are elected for a term of three years.

Rail Baltica is a double track, European standard 1,435 mm gauge electrified railway for passenger and freight transport to be built from Tallinn to the Lithuanian-Polish border. The overall length of the railway will be 870 kilometers. The total cost of Rail Baltica in Lithuania, Latvia and Estonia is estimated at around €5.8 billion with the first trains due to start rolling in 2025.

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