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Head of Estonian Railways stands down

Xinhua, February 11, 2017 Adjust font size:

The supervisory board of Eesti Raudtee (Estonian Railways) on Friday accepted the resignation of the national railway company CEO Sulev Loo, Baltic News Service reported.

Priit Rohumaa, chairman of the railway company's supervisory board, said that Loo would continue his duties for three more months while a new head is sought for the company.

Rohumaa added that the board accepted Loo's resignation with a "heavy heart."

Eesti Raudtee needs nearly 23 million euros (24.4 million U.S. dollars) to cover its costs which have been rising amid slowing transit business.

Estonian railway will have to tap in its own reserves to increase efficiency, which in Loo's words would be the main task of the new chief. Endit