The Supervisory Board of Latvia’s national airline, airBaltic, has initiated a global search for a new Chief Executive Officer (CEO).
This leader will guide the airline through its next phase of expansion and strategic preparation for a potential initial public offering (IPO).
The appointment comes at a key moment for airBaltic, as it aims to strengthen its position as a leading European airline.
Former airBaltic CEO Martin Gauss relinquished the leadership role earlier this month, following a decision made at the regular Shareholders’ Meeting.
airBaltic: Next Step to Growth and IPO
Andrejs Martinovs, Chairman of the Supervisory Board, emphasized the importance of this role. “airBaltic is at a critical juncture. Our new CEO will drive sustainable growth and ensure the airline remains competitive.”
“We seek a visionary leader with global experience and sharp strategic insight to elevate airBaltic’s standing in the European market.”
The CEO selection process adheres to Latvia’s legal framework, specifically the Law on the Management of Shares of Public Entities and Capital Companies.
Nomination Committee Established
To ensure a fair and transparent process, the Supervisory Board established a nomination committee tasked with evaluating candidates objectively.
The nomination committee comprises several leading professionals, including:
- Jūlija Bistrova, Member of the Corporate Governance Advisory Council, Ministry of Justice
- Ralph Ullmann, Sales Director, Commercial Department, SUNDAIR GmbH
- Andulis Židkovs, State Secretary, Ministry of Transport
- Pēteris Vilks, Head of the Interdepartmental Coordination Department, Cabinet of Ministers
- Līga Kļaviņa, Deputy State Secretary for Financial Policy, Ministry of Finance
- Andrejs Martinovs, Chairman of the Supervisory Board, airBaltic
- Jurģis Sedlenieks, Deputy Chairman of the Supervisory Board, airBaltic
The committee will oversee the entire selection process, from candidate evaluation to final recommendations.
Announcement and Selection Process
The vacancy will be officially announced on April 30, with the selection expected to conclude within three months. The Supervisory Board will appoint the new CEO based on the committee’s recommendations.
Until the new CEO assumes the role, Pauls Cālītis, the current interim CEO, Chief Operating Officer, and Executive Board Member, will continue to lead the airline.
airBaltic: Looking Ahead
airBaltic remains committed to its long-term goals. The airline plans to expand its fleet to 100 Airbus A220-300 aircraft by 2030, reinforcing its commitment to efficiency and sustainability.
Additionally, the company is preparing for a potential IPO, pending favorable market conditions. These initiatives underscore airBaltic’s ambition to grow its influence in the aviation industry.
Addressing public concerns, airBaltic clarified that all obligations to the former CEO have been settled as per the Supervisory Board’s decision on April 7.
Full payments have been made, and no further compensation is planned. Due to the confidential nature of the decision, the airline will not provide additional comments.
This CEO search marks a significant step for airBaltic as it navigates growth and transformation. The new leader will play a crucial role in shaping the airline’s future. The airline now endeavours to remain a competitive force in European aviation while pursuing its strategic objectives.
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