airBaltic Launches International CEO Search
The Supervisory Board of the Latvian national airline airBaltic announces that it has launched an international search process to select a new Chief Executive Officer (CEO). His task will be to lead airBaltic in its next development phase, marked by growth and strategic preparation for the possibility of becoming a publicly listed company.
“airBaltic is currently at a crucial stage of development, and the new leader will play a key role in continuing the company’s sustainable growth. We are looking for a leader with an international perspective, clear strategic thinking, and the ability to strengthen airBaltic as a modern and competitive European airline,” says Andrejs Martinovs, Chairman of the Supervisory Board of airBaltic.
The search process is being carried out in accordance with the Law on the Management of Shares of Public Entities and Capital Companies and Cabinet of Ministers Regulation of January 7, 2020 No. 20 Procedure for nomination of members of the Board and Council in capital companies in which the capital shares are owned by the state or a derived public entity. For this purpose, a nomination committee has been established, the task of which is to ensure a professional, objective, and transparent assessment of candidates.
The nomination committee responsible for supervising the selection process of the CEO and Chairman of the Board was established and approved by the airBaltic Supervisory Board. The Commission consists of the following members:
• Jūlija Bistrova, Member of the Corporate Governance Advisory Council of the Ministry of Justice
• Ralph Ullmann, Sales Director, Commercial Department of SUNDAIR GmbH
• Andulis Židkovs, State Secretary of the Ministry of Transport
• Pēteris Vilks, Head of the Interdepartmental Coordination Department of the Cabinet of Ministers, Deputy Director of the State Chancellery for State Development and Intersectoral Governance
• Līga Kļaviņa, Deputy State Secretary for Financial Policy at the Ministry of Finance
• Andrejs Martinovs, Chairman of the Supervisory Board of airBaltic
• Jurģis Sedlenieks, Deputy Chairman of the Supervisory Board of airBaltic
The vacancy is scheduled to be officially announced on April 30, and the overall selection process may take about three months. The new CEO will be appointed upon the recommendation of the nomination committee, as a result of the decision of the Supervisory Board. Until then, the airline will continue to be managed by its current interim CEO, COO, and Member of the Executive Board Pauls Cālītis.
At the same time, airBaltic’s strategic direction remains unchanged – the company continues to move towards expanding its fleet to 100 Airbus A220-300 aircraft by 2030, as well as towards a potential IPO when market conditions are favourable.
In response to public interest and to dispel possible concerns, airBaltic confirms that all obligations towards the former CEO have been fulfilled within the framework of the Supervisory Board’s decision of April 7. Settlements have been made in full, and no additional payments or compensation are envisaged under this decision. Given the confidentiality of the decision, no further comments will be provided on this matter.
airBaltic operates nearly 130 routes from Riga, Tallinn, Vilnius, Tampere, and, seasonally, Gran Canaria, offering connections to a wide range of destinations in the airline’s route network in Europe, the Middle East, North Africa, and the Caucasus region. A complete schedule of airBaltic flights and tickets are available on the company’s homepage at www.airbaltic.com.
