Leonids Loginovs, the long-standing head of the authority of Latvia's major port Riga, who earlier this month was acquitted of abuse of office charges, tendered resignation on Wednesday announcing an intention to retire on March 10.

The board of the Freeport of Riga, the port authority, accepted Loginovs' resignation.

Freeport of Riga chairman Andris Ameriks said the next CEO would be chosen either in an open tender or by a recruitment firm.

Loginovs, who has been running the port for the past 19 years, explained his decision by saying that he has reached the retirement age and wants to enjoy some rest.

Loginovs, who became Riga port's top manager in March 1998, has survived numerous attempts to sack him.

The latest unsuccessful attempt to dislodge him involved a lawsuit that followed a criminal investigation and state auditors' report accusing the Freeport of Riga CEO of misspending the port's money on unlawful donations and bonuses.

Earlier this month, however, a district court in Riga acquitted Loginovs of all charges, with the judge admitting that the evidence presented to the court had been insufficient to convict him.

A criminal probe was launched against Loginovs and his deputy Aigars Pecaks in 2013 after an audit report alleged unlawful activities at the Freeport of Riga.

Still, the Riga City Council whose representatives sit on the Freeport of Riga Board, refused to sack Loginovs, saying that they had to wait for the law enforcement authorities' findings first.

Loginovs and Pecaks had denied any wrongdoing on their part.

source: Xinhua