Arūnas Štaras, Transport Deputy Minister and the company’s chairman, told the daily that Bogočionkas would resign voluntarily.
“Bogočionkas had promised to do more than he actually did during that time. On the other hand, I am aware about the current situation in the shipping market, about larger and stronger companies that went bankrupt during that time. Hence I would say that he had managed the situation and made the company slightly more self-sufficient,” Štaras said.
Transport Ministry would open search for a new CEO soon, he said.
LJL found itself in a complicated situation during the crisis as it purchased two vessels right before the downturn, Štaras said. He would not deny that the company might run into difficulties if its creditor – one of Lithuania’s commercial banks – decided to recover the debt through the sale of ships.
