Call for Applications for Independent Members of the Board of AB “Vidaus vandenų kelių direkcija”
AB “Vidaus vandenų kelių direkcija” (hereinafter – the Company) is the manager of inland waterways of national significance. By creating and improving conditions for freight and passenger navigation, the Company is responsible for the maintenance and development of the Nemunas River, the Curonian Lagoon, the Kaunas Reservoir, and other inland waterways of national significance. The Company also develops infrastructure intended for the transportation of passengers and cargo.
The Company’s continuous maintenance activities include fairway marking, riverbed cleaning and regulation, hydrographic works, maintenance of inland waterway infrastructure, and the repair of vessels and other operational equipment.
Company website: https://vvkd.lt/
Information on the Company’s strategic planning, financial performance, and shareholder expectations:
- Company Strategy: Planning Documents – VVKD
- Financial Statements: Financial Statement Sets – VVKD
- Shareholder Expectations Letter: https://vvkd.lt/wp-content/uploads/2026/05/2023-03-23-lukesciu-rastas-VVKD.pdf
The Company’s collegial management body, the Board, consists of four members, of whom three are independent Board members and one is a civil servant. The term of office of the Board is four years.
Board Member Remuneration
In accordance with Resolution No. 1092 of the Government of the Republic of Lithuania of 14 October 2015, “On the Approval of the Procedure for Remuneration of Members of Collegial Bodies of State-Owned and Municipal Enterprises and Civil Liability Insurance for Members of Collegial Bodies of State-Owned and Municipal Enterprises”, an independent Board member is entitled to a fixed monthly remuneration during the term of office amounting to no less than one quarter (1/4) of the Company CEO’s average gross monthly salary.
If an independent Board member is elected Chairperson of the Board, he or she shall receive a fixed monthly remuneration amounting to no less than one third (1/3) of the Company CEO’s average gross monthly salary during the period of serving as Chairperson.
The specific remuneration amount in euros will be determined by the General Meeting of Shareholders of the Company.
Procedure for the Remuneration of Members of Collegial Bodies of State-Owned Enterprises:
https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/3d064b61788e11e59a1ed226d1cbceb5/asr
Board Member Activity Agreement:
https://vvkd.lt/wp-content/uploads/2023/09/Valdybos-nario-veiklos-sutartis.pdf
Selection Procedure
Purpose of the Selection
The purpose of the selection process is to identify the most suitable candidates for the positions of independent members of the Company’s Board.
Initiation of the Selection
The selection process is initiated by the Ministry of Transport and Communications of the Republic of Lithuania. The executive search and recruitment agency UAB Master Class LT participates in the selection procedure.
Selection Process
The selection will be conducted by a Selection Committee established by an order of the Minister of Transport and Communications of the Republic of Lithuania. The Committee will consist of one representative nominated by the Prime Minister, one representative nominated by the Minister of Transport and Communications, one representative nominated by the Minister of the Economy and Innovation, one representative nominated by the Minister of Finance, and one representative of the Governance Coordination Centre (hereinafter – the Selection Committee).
Selection Method
The selection process will be carried out through interviews with candidates invited by the Selection Committee.
The selection shall be conducted in accordance with the Description of the Procedure for the Selection of Candidates to Collegial Supervisory or Management Bodies of State or Municipal Enterprises, State- or Municipal-Controlled Companies and Their Subsidiaries:
https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/f0173961199a11e5bfc0854048a4e288/asr
Information on the selection and appointment procedures applied to state-owned enterprises is available on the website of the Governance Coordination Centre:
- https://governance.lt/kolegialus-organai/#nariu-atrankos
- https://governance.lt/kolegialus-organai/#skyrimo-procedura
General, Special and Independence Requirements
Candidates applying for the position of an independent member of the Company’s Board must meet the established general, special and independence requirements.
The general and independence requirements shall apply to independent Board members elected to the Company’s Board throughout their entire term of office.
General Requirements
Candidates must:
- hold a university degree or an equivalent higher education qualification;
- be of impeccable reputation. A person shall not be considered to be of impeccable reputation if he or she has been convicted, in accordance with the procedure established by law, of a serious or very serious criminal offence, or of a criminal offence against property, property rights and property interests, the economy and business order, the financial system, the civil service and public interests, justice, public security, or the public administration system, and the conviction has not expired or been annulled;
- have no relationships with other natural or legal persons that could give rise to a conflict of interest while performing the duties of a member of a collegial body;
- not be deprived of or restricted in the right to hold the relevant position applied for or to perform the functions assigned to that position;
- not have been removed within the last five years from a sole or collegial management body of a legal entity due to improper performance of duties;
- not be a career civil servant employed by a ministry, government agency or institution under a ministry and entrusted with functions related to the formation of state policy in the sector in which the company, to whose collegial body the candidate is applying, operates;
- not be a state politician elected or appointed in accordance with the procedure established by law, nor a civil servant of political (personal) confidence.
Special Requirements
Candidates must have a command of the English language at a minimum B2 level and possess expertise in one of the following areas:
2.1. Finance and Investment Management
(finance, investments, public-private partnerships)
The required competence shall be evidenced by:
- at least 4 years of managerial experience acquired within the last 10 years (as a CEO, a senior executive directly reporting to the CEO, or a member of a supervisory or management body) in a large company in the fields of financial management, financial consulting, provision of financial services, auditing, investment planning, or the development of public-private partnership projects;
- experience in developing and implementing financial management strategies;
- knowledge of strategic planning, analysis, control and supervision of state-owned enterprises.
Additional advantages:
- experience in the use of EU funds and other external financing instruments;
- experience in logistics and freight forwarding;
- knowledge of the regulatory framework governing inland waterway transport activities;
- knowledge of legislation related to national security;
- experience serving on collegial supervisory or management bodies;
- experience in risk management;
- strong leadership, teamwork and stakeholder engagement skills;
- knowledge of corporate governance principles.
2.2. Project Management
The required competence shall be evidenced by:
- at least 4 years of managerial experience acquired within the last 10 years (as a CEO, a senior executive directly reporting to the CEO, or a member of a supervisory or management body);
- experience in the evaluation of investment projects;
- experience in the implementation of large-scale and complex investment projects;
- knowledge of infrastructure and production-related operational processes.
Additional advantages:
- experience in the design, supervision or construction of transport infrastructure projects;
- ability to assess the effectiveness of project portfolio management and its alignment with strategic objectives;
- knowledge and practical application of sustainability policies;
- knowledge and practical application of company law and corporate regulation;
- experience serving on collegial supervisory or management bodies;
- knowledge of the regulatory framework governing inland waterway transport activities;
- experience managing infrastructure projects implemented in cooperation with municipalities, state institutions or international partners;
- experience in risk management;
- strong leadership, teamwork and stakeholder engagement skills;
- knowledge of corporate governance principles.
2.3. Strategic Planning
The required competence shall be evidenced by:
- at least 4 years of managerial experience acquired within the last 10 years (as a CEO, a senior executive directly reporting to the CEO, or a member of a supervisory or management body) in the development of strategies and ensuring their implementation.
Additional advantages:
- experience in logistics planning, logistics development or management of logistics departments;
- knowledge of corporate management, control and supervision;
- experience in logistics, freight forwarding or port management;
- experience in digitalisation and innovation implementation;
- experience in risk management;
- knowledge of the regulatory framework governing inland waterway transport activities;
- experience serving on collegial supervisory or management bodies;
- strong leadership, teamwork and stakeholder engagement skills;
- knowledge of corporate governance principles.
Independence Requirements
Candidates must meet the following independence requirements:
- have not been, for at least one year prior to the selection process and are not currently, civil servants or employees of a state institution or authority;
- have not been, for at least one year prior to the selection process and are not currently, the CEO, a member of another collegial body, an employee or a shareholder of the company to whose collegial body they are applying, or of its subsidiary, parent company, or a related legal entity;
- must not be a close relative of a shareholder holding more than one-fifth of the voting rights at the general meeting of shareholders of the company, its subsidiary, parent company or related legal entity, nor a close relative of the manager or member of a collegial body of such shareholder. Close relatives include spouses, cohabitants, registered partners, parents, adoptive parents, children, adopted children, siblings, grandparents, grandchildren and their spouses, cohabitants or registered partners;
- must not have significant business relationships with the company, its subsidiary, parent company or a related legal entity, either directly or through participation in, management of, or membership in the governing body of an entity having such relationships. Significant business relationships are deemed to exist where a person or entity supplies goods or services (including financial, legal, advisory or consulting services) and has received more than EUR 1,000 in revenue from the company or related entities during the previous financial year, excluding remuneration for serving as a member of a collegial body or committee thereof;
- must not, within the last two years, have been a partner, shareholder, manager, member of a collegial body or employee of an audit firm that performs or has performed an audit of the company, its subsidiary, parent company or a related legal entity;
- must not have served as a member of the collegial body of the company, its subsidiary or parent company for more than 10 years in total. This period shall be calculated by adding previous terms of office in the same company, provided that interruptions between terms did not exceed one year;
- must not serve as a member of more than three collegial bodies of state-owned or municipally-owned enterprises in total.
Documents to Be Submitted by Candidates
Candidates must submit:
- Application form and declaration of integrity (Annex 1);
- Consent to the processing of personal data (Annex 2);
- Curriculum Vitae (CV);
- Copy of an identity document;
- Motivation letter addressed to the Selection Committee (free format, in Lithuanian);
- Copies of higher education diplomas and other documents certifying educational qualifications;
- Other documents or copies thereof demonstrating compliance with the general, special and independence requirements.
The Selection Committee and/or representatives of UAB Master Class LT may request additional documents confirming compliance with the above-mentioned requirements.
Submission of Documents
Candidates shall submit the required documents to UAB Master Class LT no later than 1 July 2026 (inclusive).
Documents should be sent by e-mail to: jolita@masterclass.lt
Submitted documents must either be signed using secure electronic signature tools or provided as scanned copies. Original documents may be requested if the candidate is selected as the successful applicant.
Contact Persons
UAB Master Class LT (Executive Search and Recruitment Agency)
Jolita Dabužinskaitė
Executive Search Consultant
E-mail: jolita@masterclass.lt
Tel.: +370 685 05275
Laura Duksaitė-Iškauskienė
Managing Director
E-mail: laura@masterclass.lt
Tel.: +370 699 37170
AB “Inland Waterways Directorate”
Justina Juozaponė
Director of Human Resources and Communications
E-mail: justina.juozapone@vvkd.lt
Tel.: +370 686 25664
Artūras Grigas
Head of Legal and Compliance
E-mail: arturas.grigas@vvkd.lt
Tel.: +370 679 36477
Ministry of Transport and Communications of the Republic of Lithuania
Roma Andruškevičienė
Head of the State Assets and Corporate Governance Group
E-mail: roma.andruskeviciene@sumin.lt
Tel.: +370 620 17580
