Lithuanian Airports Elected an Independent Chairman of the Board

On 11 April, the board of Lithuanian Airports, a company that incorporates and manages the airports in Vilnius, Kaunas, and Palanga, elected a new chairman. The elected chairman was Tomas Krakauskas, who had worked as an independent board member for almost a year and a half.

“The election of the independent board member demonstrates the intention and determination of Lithuanian Airports to remain an innovative and efficiently managed state enterprise. We think that the election of a professional independent board member as the chairman will help the company to operate even more successfully. Such practice is recognised and widespread in foreign countries,” said Donatas Voveris, the Head of Airport Network at Lithuanian Airports.

T. Krakauskas was elected as a council member of the board of Lithuanian Airports in January 2016. Since November of the same year, he has also held the post of the director of the Investment Department in UAB “ME Investicija”, which controls the group of companies “Girteka Logistics”; before that, he had worked in “Finasta” group for eleven years and held different posts related to the management of financial investments. In addition, T. Krakauskas is also a lecturer in the ISM University of Management and Economics.

“I appreciate the trust placed in me and I do not doubt that the experience of working in a private sector as well as the experience of acting as a member of the board of Lithuanian Airports will allow me to contribute to increasing the efficiency of the company further. The next year will be a serious challenge for Lithuanian Airports: the number of passengers increased by a double digit, an ambitious investment programme is planned, and preparations for the concession are in progress. I do not doubt that the professional team of the Lithuanian Airports, which complies with the highest management standards, will help to achieve the goals that we have set for ourselves,” said T. Krakauskas.

In addition to T. Krakauskas, who was elected as the chairman, the board of Lithuanian Airports consists of the independent board member Nerijus Pačėsa, the Vice-Minister of the Ministry of Transport and Communications Ričardas Degutis, and two other representatives of the Ministry of Transport and Communications.

According to the resolutions of 2017 that were drafted by the Ministry of Economy and approved by the Government, by 1 January 2018 independent members will have to comprise at least a half of the boards of state enterprises. The new changes will also prevent the appointment of a public servant of political confidence as a member of the board or council of a state enterprise.

Previously the chairman of the board of Lithuanian Airports was Arijandas Šliupas, the Vice-Minister of Transport and Communications.