Remuneration for the next CEO of the Latvian flag carrier airBaltic will be depend on the individual job contract that is concluded with the selected candidate, the parliamentary secretary of the Ministry of Transport, Girts Dubkevics, told the Saeima Inquiries Committee on Wednesday.
The committee met to consider an opposition proposal to Transport Minister Atis Svinka about how to select candidates for the position of airBaltic CEO and how to set the salary of the airline’s new chief.
Asked whether the overall pay packet will be lower, Dubkevics said that the salaries of airBaltic’s board members were slashed by 40% in February of this year as part of an optimisation of remuneration at the company. “For our part, we will evaluate the ability of candidates to achieve good business results,” the parliamentary secretary added.
The former CEO of the airline, Martin Gauss, earned a salary of EUR 838,568 in 2024.
Dubkevics told lawmakers that a tender for the position of CEO will be announced on Wednesday. Candidates will be expected to have at least ten years of senior management experience, including experience as a management board member in the aviation industry, in the management of large airlines, or in capital markets.
The Transportation Ministry representative predicted that the selection process will take around three months.
The supervisory board of airBaltic has insisted that no additional costs are being planned at this time in relation to severance compensation for Gauss.
Source: BNS
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