Supervisory Board of RB Rail appoints Ignas Degutis as acting CEO

On 27 September 2018, RB Rail AS Supervisory Board appointed Ignas Degutis, Chief Financial Officer and Member of the Management Board in the capacity of RB Rail AS Acting CEO.


The decision comes after the resignation of Baiba Rubesa, the Chief Executive Officer and Chair of the Management Board on 27 September.


“There is a potential to accelerate the project implementation. RB Rail continues to work in full capacity and is focused on progressing with the detailed technical design for all sections of the railway as well as finalising the long-term business, operational and infrastructure management plans of Rail Baltica which will determine the future success of the project”, says Ignas Degutis. ”In addition, we are continuously working towards the long-term financing of the Rail Baltica Global Project and a sustainable funding for the joint venture’s budget in 2019-2020”.


Ignas Degutis also adds “We highly appreciate the significant contribution of Ms Rubesa in the project development from the very beginning of serving as CEO. During these years Ms Rubesa has built a highly motivated and knowledgeable team of professionals at RB Rail AS and has put in place an effective and transparent organisation and procurement structure”.


The Rail Baltica Global Project has entered the design phase in all three Baltic countries. In addition, in 2017 the Parliaments of Estonia, Latvia and Lithuania ratified the Rail Baltica intergovernmental agreement confirming their long-term commitment to the development of the project. The third Connecting Europe Facility (CEF) Grant Agreement has been signed, committing more than 800 million euros to the needs of the project.


Ignas Degutis is an economics professional with a vast experience in financial management, including feasibility studies, financing schemes and contract negotiations for projects of national strategic importance to the state economics. He joined RB Rail AS as Chief Financial Officer and was appointed as Member of the Management Board on April 24, 2017. He holds a bachelor’s degree and a master’s degree in financial economics from ISM University of Management and Economics in Vilnius, Lithuania.