The public limited company Lietuvos geležinkeliai (hereinafter – the Company) is the largest railway group in the Baltic States, comprising the parent company Lietuvos geležinkeliai and its directly and indirectly controlled subsidiaries.

The LTG Group’s core activities include the efficient transport of passengers and freight by rail, as well as the management of essential public infrastructure. The Company also actively implements important state investment projects and contributes to the development of the country’s transport sector.

In response to geopolitical and economic shifts in the transport market, the European Union’s railway sector reform, and the implementation of the European Green Deal, the LTG Group fulfils special obligations: it provides public passenger transport services on domestic routes, maintains and modernises public railway infrastructure, and ensures safe and efficient railway operations.

The Company continually seeks new opportunities and solutions to encourage people and businesses to choose the most sustainable mode of transport – trains.

The Company’s collegial management body – the Board of Directors – comprises 7 members, 5 of whom are independent. The Board’s term of office is four years, concluding on 20 July 2029.

The Company’s website address: ltg.lt

Further information on the Company’s strategy, financial reports, and letter of expectations is available at:
ltg.lt/en/about-us/strategy/
ltg.lt/en/about-us/reports/

In accordance with Resolution No. 1092 of the Government of the Republic of Lithuania (dated 14 October 2015), entitled ‘On Approval of the Payment Procedure for Members of Collegial Bodies of State-Owned and Municipality-Owned Companies and Insurance of Civil Liability of Members of Collegial Bodies of State-Owned and Municipality-Owned Companies’, an independent Board member shall receive a fixed monthly remuneration of no less than one quarter of the average monthly salary of the Company’s CEO (pre-tax). If elected Chair, the independent member shall receive no less than one third of the CEO’s average monthly salary (pre-tax). The exact amount in euros will be determined by the Company’s General Meeting of Shareholders.

The draft contract for Board member duties is available in Annex 3 (in Lithuanian).

Selection Procedure

• Objective: To appoint the two most suitable independent candidates to the Company’s Board of Directors.
• Initiator: Ministry of Transport and Communications of the Republic of Lithuania.
• Process: Recruitment agency Master Class LT participates in the selection.
• Execution: A Selection Committee appointed by the Minister of Transport and Communications will conduct the process. The Committee comprises representatives nominated by the Prime Minister, the Minister of Transport and Communications, the Minister of Economy and Innovation, the Minister of Finance, and the Governance Coordination Centre (hereinafter – the Selection Committee).
• Method: Interviews with shortlisted candidates.
• Procedure: Conducted in line with the ‘Description of the Selection Procedures for Candidates to Collegial Supervisory or Management Bodies of State or Municipality-Owned Enterprises, State or Municipality-Owned Companies or Their Subsidiaries’, available on the official legal acts’ website.

Further information on selection and appointment procedures carried out by the Governnace Coordination Centre: governance.lt/kolegialus-organai/#nariu-atrankos and governance.lt/kolegialus-organai/#skyrimo-procedura

Candidate Requirements

Candidates applying for the independent member position of the Company’s Board must meet general, special, and independence requirements that will apply throughout their Board membership term.

General requirements

Candidates must:

• Hold a university degree or an equivalent higher education qualification.
• Be of impeccable reputation (i.e. no convictions for serious crimes related to property, finance, public service, or governance, and no active criminal record).
• Have no relations with other natural or legal persons that could cause a conflict of interest in fulfilling the duties of a Board member.
• Not be deprived or restricted from the right to hold the respective office or perform assigned duties.
• Not have been dismissed from a managerial or collegial body role of a legal entity in the past five years due to malpractice.
• Not be a civil servant holding functions related to state policy-making in the Company’s sector.
• Not be elected or appointed a state politician or political (personal) trust civil servant under the law.

Special requirements:

1. Proficiency in English (minimum B2 level).
2. Expertise in one of the following areas:

2.1. Finance, risk management, and auditing, demonstrated by at least 5 years of senior managerial experience (e.g. CEO, senior executive directly reporting to the CEO, or member of a collegial supervisory or management body) in a large company within the last 10 years.

Advantages include:

1. • Ability to develop long-term financial strategies considering company goals and market trends.
   • Experience ensuring internal control and successful risk management.
   • Experience serving in company collegial supervisory or management bodies.
   • Experience in financial management, investment project evaluation, and financing.
   • Experience in increasing company value, managing change and operational risk.
   • Knowledge of legal regulations governing state-owned companies.
   • Strong leadership, teamwork, and stakeholder management skills.
   • Understanding of corporate governance.

2.2. Development and sustainable growth, demonstrated by at least 5 years of senior managerial experience in business development within a large company in the last 10 years.

Advantages include:

1. • Business development experience in large or internationally operating companies.
   • Knowledge and experience in identifying and assessing operational and governance risks.
   • Ability to assess geopolitical factors in business.
   • Experience ensuring sustainable company value growth and returns to shareholders.
   • Strong leadership, teamwork, and stakeholder management skills.
   • Knowledge and experience of corporate governance principles.
   • Familiarity with corporate governance and legal regulations for state-owned enterprises.

Independence requirements

Candidates must:

• Have not been an employee or civil servant of the entity initiating selection or its subordinate legal entity related to the Company or its subsidiaries in the past year.
• Have not been a manager, member of collegial bodies, employee, or shareholder of the Company, its subsidiaries, or related legal entities in the past year.
• Must not be a close relative or partner (spouse, cohabitant, registered partner, or close family member) of a shareholder holding more than 20% of voting shares in the Company or related entities.
• Must not have significant business relations (e.g. supplier or service provider receiving over €1,000 from the Company or related entities in the past financial year, except remuneration for collegial body duties).
• Must not have worked for an auditing company auditing the Company or related entities in the past two years.
• Must not have served as a member of the Company’s or related entities’ collegial body for more than 10 years (counting consecutive and previous periods with no longer than one-year break).
• Not serving on more than three boards of state or municipality-owned companies.

Required Documents

• Application and declaration of integrity
• Consent to personal data processin
• Curriculum vitae.
• Copy of personal identification document
• Cover letter (in Lithuanian, free format) addressed to the Selection Committee
• Copies of higher education certificates
• Other documents verifying compliance with the above requirements

Additional documentation may be requested by the Selection Committee or the recruitment agency Master Class LT.

Submission Details

Documents must be submitted to the recruitment agency Master Class LT by 19 September 2025 (inclusive).

Documents must be sent by email to milda@masterclass.lt, either signed with a secure electronic signature or as scanned copies. Original copies will be requested if the candidate is selected.

Contact Information

Master Class LT Laura Duksaitė-Iškauskienė, Director, laura@masterclass.lt, Tel: +370 699 37170

Lietuvos geležinkeliai Monika Čereškienė, Talent Acquisition Manager, monika.cereskiene@ltg.lt, Tel: +370 618 09290

Ministry of Transport and Communications:

• Roma Andruškevičienė, Head of State Property and Enterprise Management Group, roma.andruskeviciene@sumin.lt, Tel: +370 620 17580
• Janina Laskauskienė, Adviser, State Property and Enterprise Management Group, janina.laskauskiene@sumin.lt, Tel: +370 683 86320