President moves to limit terms of office for state-owned cos’ CEOs

Dalia Grybauskaitė
DELFI / Karolina Pansevič

“In a further effort to increase the transparency of the public sector, President Dalia Grybauskaitė proposes to stop the tradition of eternal CEOs. The president proposes to establish limited terms of office for CEOs as an additional safeguard against corruption, nepotism and abuse of office,” Lina Antanavičienė, the president’s advisor on economic issues, said in a news conference on Wednesday.

The amendments come after media reports that the state railway operator Lietuvos Geležinkeliai (Lithuanian Railways) had allocated aid to institutions linked to politicians and had been engaged in non-transparent procurement practices.

According to data from the president’s office, the state in 2015 owned 123 companies and local authorities controlled 233 companies. The CEOs of 20 state-owned companies have been in their posts for over 20 years, some of them for as many as 30 years. Around 40 have held the jobs for more than 10 years.

Forestry enterprises and road maintenance companies have the largest numbers of long-term CEOs.

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