Lithuanian Railways management resigns
The management of the Lithuanian Railways resigns due to the transit of Belarusian goods. LTG plans a cargo-free future for Belaruskali and diversifies its activities.
This is reported by the railway magazine Railway Supply with reference to Lietuvos geležinkeliai.
General Director of the Lithuanian Railway (Lietuvos Geležinkeliai, LTG) Mantas Bartushko is retiring. This decision was made by the company board, which, at the request of the shareholder, was supposed to assess the actions of the railway management in the situation with the transit of goods from Belarus, the company said.
“The management of the company has carried out an amazing transformation of the Lithuanian Railways over the past five years. Investigating and assessing the recent situation, we see that the company did not have sufficient legal instruments to implement its political will. However, the company management failed to fully resolve the crisis, ”says Keistutis Šlužas, Chairman of the Board of Lietuvos Geležinkeliai.
He said that in the near future, the board, together with the company management, will prepare a plan that will help ensure business continuity. It was also decided to envisage a transitional period, after which the head of LTG will resign.
“In five years we have managed to achieve historic changes in the Lithuanian railways. Today we had a professional discussion with the board on the situation. We agreed to work together to ensure the continuity of the company activities during this time, ”says Mantas Bartushko, General Director of Lithuanian Railways.
It was recognized at the meeting that the situation in Belarus has a significant impact on the activities of the LTG group, which was regularly reported to the board. It can be minimized by “sustainable legal solutions that are sought together with the shareholder.”
The LTG Board adheres to the position that the flow of goods through the territory of Lithuania can be suspended only if there are serious legal grounds. According to the conclusions of the Lithuanian and American lawyers, there are no such ones.
“We can guarantee that the flow of goods will be stopped as soon as the necessary legal framework is in place,” says Shluzhas.
Taking into account the risks, LTG Group plans to diversify its activities and at the beginning of this year removed the cargoes of Belaruskali from strategic directions. In addition, the group budget for the next year is planned without taking into account the cargo of potassium producer.
Railway news you may have missed:Facebook, Twitter, LinkedIn, read Railway Supply magazine online.
Place your ads on webportal and in Railway Supply magazine. Detailed information is in Railway Supply media kit