Lithuania replaces single representative at RB Rail supervisory board

Take note – story published 5 years and 8 months ago

The shareholders of the Baltic joint venture RB Rail have approved a new Supervisory Board after Lithuania recalled one of its board members, the company said August 21. 

The Lithuanian shareholder at RB Rail (Rail Baltica statyba UAB) recalled one of its representatives – Arenijus Jackus – and instead appointed Romas Švedas.

In such an instance, the whole Supervisory Board had to be recalled and a new one appointed.

The Supervisory Board is comprised of six members – two members nominated by each shareholder. The Board members serve three-year terms.

The company said Romas Švedas is a lawyer and has an extensive experience in international economic relations and development of international energy and transport infrastructure projects, corporate governance and work of international organizations, like the EU and UN.

RB Rail is a joint venture of the Republics of Estonia, Latvia and Lithuania, which has been established to implement Rail Baltica – the first pan-Baltic infrastructure project of its kind.

RB RAIL AS is the central coordinator for the Rail Baltica project – a high-speed rail line from Tallinn to the Lithuanian/Polish border with further extensions expected in the future, linking Baltic railways with Europe. 

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