rugsėjo 19, 2022

“LTG CARGO” announces the selection of independent board members

 

NOTICE OF SELECTION OF INDEPENDENT MEMBERS TO THE BOARD OF AB LTG CARGO, A MEMBER OF AB LIETUVOS GELEŽINKELIAI CORPORATE GROUP

 

AB LTG Cargo is a company of the Lietuvos Geležinkeliai (Lithuanian Railways) Group that operates on a competitive market and is engaged in rail freight transport on local and international routes, provides wagon rental services as well as freight forwarding and customs brokerage services.

To gain a foothold on the international market, in 2020 LTG Cargo  established its subsidiaries LTG Wagons, LTG Cargo Polska and LTG Cargo Ukraine. LTG Cargo Polska develops rail freight transport activities in Poland, while LTG Cargo Ukraine provides shunting locomotive and wagon rental and freight transport services in Ukraine.

Last year, the Company carried over 50 million tons of freight and generated nearly EUR 400 million in revenue. LTG Cargo employs over 2,000 employees.

 

AB Lietuvos Geležinkeliai announces the selection for the positions of 2 independent members to the Board of its subsidiary AB LTG Cargo for a new term of office of 4 years.

 The competence areas of independent board members are:

  1. International logistics and intermodality.
  2. Financing strategy.

The website of AB LTG Cargo: https://cargo.litrail.lt/en/home

AB LTG Cargo performance results: https://cargo.litrail.lt/en/veiklos-rezultatai1

AB LTG Cargo strategy: https://cargo.litrail.lt/en/kroviniu-vezimo-direkcija

Letter of Expectations: Letter of Expectations of AB Lietuvos Geležinkeliai

 

The Company’s Board consists of 5 members elected for a term of 4 years. To ensure good governance practices, appropriate representation of shareholder interests and the added value that the competence of independent members can bring, the board members are selected as follows: 2 Board Members are delegated by the parent company, 1 Board Member is a civil servant, and 2 Board Members are independent.

Preliminary date to start serving on the Board is 02/01/2023.

The recruitment agency Master Class LT, UAB is involved in the selection procedures.

The online link of VšĮ Valdymo Koordinavimo Centras (Governance Coordination Centre) to information about the selections carried out by the GCC:

https://governance.lt/kolegialus-organai/#nariu-atrankos

The selection is performed in accordance with the Description of Selection of Candidates to a Collegial Supervisory or Management Body of a State or Municipal Enterprise, State-Owned or Municipality-Owned Company or Its Subsidiary, approved by  Resolution No 631 of the Republic of Lithuania Government of 17/06/2015 (hereinafter: the ‘Description of Selection’).

https://www.e-tar.lt/portal/lt/legalAct/0bf2e080199b11e58569be21ff080a8c/asr

The selection will be carried out by a Selection Commission formed by order of the Chief Executive Officer of AB Lietuvos Geležinkeliai. The Selection Commission is formed from five members – one representative proposed by the head of the institution representing the State, three representatives of the parent state-owned company and one representative of VšĮ Valdymo Koordinavimo Centras (Governance Coordination Centre).

Method of selection: interview

 

Candidates who apply for the position of an independent member of the Company’s Board must meet the following general and special requirements and independence criteria:

General requirements:

1.1. The candidate must have higher university or equivalent education;

1.2. The right to hold the respective position for which the candidate applies or to fulfil the functions assigned to such position must not have been deprived or restricted;

1.3. Over the past 5 years the candidate must not have been disqualified from office at the single-person or collegial body of a legal entity due to improper fulfilment of duties.

1.4. The candidate must have an impeccable reputation;

1.5. The candidate must not have any relationship with other private persons or legal entities which could lead to a conflict of interest in the course of performing duties;

Special requirements:

2.1. Very good English language skills (written and oral);

2.2. Experience in implementation of strategic goals and sustainable increase in the value of the company;

2.3. Knowledge of corporate governance principles and knowledge of and experience in good corporate governance;

2.4. Excellent leadership, teamwork and stakeholder engagement capabilities;

Special requirements applicable by competence areas:

3.1. International logistics and intermodality:

3.1.1. At least 5 years of managerial work experience (the head of the company (CEO), a top-level executive directly reporting to the CEO, a member of the management or supervisory collegial body);

3.1.2. Experience in business expansion to international markets;

3.1.3. At least 5 years of managerial work experience in road, air, water, or rail transport and/or railway infrastructure management in member countries of the European Union or the North Atlantic Treaty Organization;

3.1.4. At least 3 years of managerial work experience in the area of logistics;

3.1.5. work experience in a multinational enterprise group;

3.2. Financing strategy:

3.2.1. At least 5 years of managerial work experience (the head of the company (CEO), a top-level executive directly reporting to the CEO, a member of the management or supervisory collegial body);

3.2.2. Experience in development and implementation of digitalisation, innovation, and efficiency improvement solutions;

3.2.3. Experience in the areas of project management, evaluation and financing;

3.2.4. Knowledge of and experience in funding for state-regulated activities;

3.2.5. At least 5 years of managerial work experience in the areas of finance management, finance consulting, financial services or auditing;

Independence criteria:

4.1. the candidate must not be a civil servant or employee of AB LTG Cargo, its subsidiary or parent company and a legal entity related thereto whose participants, stakeholders, or founders are the companies specified in this item (hereinafter: the ‘related legal entity’), of the entity initiating the selection or a legal entity reporting to it, and during the past one year must not have held such position;

4.2. the candidate must not be a member of the collegial body, the head or employee of AB LTG Cargo, its subsidiary or parent company or the related legal entity whose participants, stakeholders or founders are the companies specified in this item (hereinafter: the ‘related legal entities’), and during the past one year must not have held such position and must not have received any remuneration from such legal entities, except for remuneration for serving as a member of the collegial body or of the committee;

4.3. during the past one year the candidate must not be a participant of AB LTG Cargo, its subsidiary or parent company, or of the related legal entity, a representative of the participants of these legal entities;

4.4. the candidate must not be a person close to a participant, head or members of the collegial bodies of AB LTG Cargo, its subsidiary or parent company, or of the related legal entity – the spouse, cohabitee, partner, when the partnership is registered in accordance with the procedure laid down by law, as well as their parents (adoptive parents), children (adopted children), brothers (adopted brothers), sisters (adopted sisters), grandparents, grandchildren and their spouses, cohabitees or partners;

4.5. the candidate must not have a significant business relationship with AB LTG Cargo, its subsidiary or parent company or the related legal entity neither directly nor as the participant or head of the legal entity having such relationship. A private person or legal entity is considered as having a significant business relationship if his income from AB LTG Cargo, its participant or the related legal entity during the past 12 months is higher than EUR 1,000, except for wages or remuneration for serving as a member of the collegial body or of the committee;

4.6. for the past 2 years the candidate must not be the partner, participant, head, member of the collegial body, or employee in an audit company that conducts or has conducted an audit of AB LTG Cargo, its subsidiary or parent company or the related legal entity;

4.7. the candidate must not be a member of the collegial body of AB LTG Cargo, its subsidiary or parent company for more than 10 years. This period is calculated by adding the previous terms of office of a member of the collegial body of the same company to the future term of office of a member of the collegial body to which the candidate would be appointed, with a maximum interval of one year between them;

4.8. the candidate must not be a member of the collegial body of more than four state-owned or municipality-owned enterprises.

 

Documents required from candidates:

  1. Request to Participate in the Selection and Declaration of Honour wherein it is required to indicate what area(s) of competence according to the special requirements set out herein he/she is applying for (Annex 1);
  2. Candidate’s Consent to Personal Data Processing (Annex 2);
  3. Curriculum Vitae;
  4. A copy of ID document;
  5. Motivation Letter to the Selection Commission;

On request by the Selection Commission and/or representatives of the executive search agency Master Class LT, UAB, additional documents may be requested in order to confirm the compliance with the general and special requirements and the independence criteria.

Candidates shall submit documents to the executive search agency Master Class LT, UAB by 28 September 2022 inclusive.

Candidates can submit documents to the executive search agency Master Class LT, UAB in the following way:

By email to submit documents signed using secure electronic signature means with qualified electronic signature certificates, or submit their scanned copies with signature.

Contact persons at Master Class LT, UAB:

Laura Žiaubrienė, Executive Search Consultant

laura.ziaubriene@masterclass.lt, phone: +370 (670) 33351.

Substitute – Laura Duksaitė Iškauskienė, Managing Partner

laura@masterclass.lt , phone: +370 (699) 37170.

ANNEXES:

  1. Request to Participate in the Selection and Declaration of Honour by the Candidate. LTG_Cargo_ANNEX_1
  2. Consent to Personal Data Processing. LTG_Cargo_ANNEX_2