Lithuanian Prime Minister, Gintautas Paluckas, on Thursday informed the Lithuanian Social Democratic Party’s Board of his decision to resign.

According to the Baltic News Service (BNS) the announcement came ahead of a planned vote by the party’s executive board on Thursday.

Mr Paluckas’ decision followed a warning by the Speaker of the Seimas and leader of the Democratic Union “For Lithuania,” Saulius Skvernelis.

He stated that his party would withdraw from the governing coalition if Mr Paluckas remained in office.

Mr Paluckas was also said to be stepping down as the chairman of the Lithuanian Social Democratic Party and Mindaugas Sinkevicius.

The mayor of Jonava District and Mr Paluckas’ former first deputy will take over the leadership, party sources confirmed to BNS on Thursday.

Mr Sinkevicius stated that he has no intention of seeking the prime minister’s post following Mr Paluckas’ resignation and promised that the party would nominate a new candidate without delay.

It remained unclear who the Social Democrats would nominate for the new prime minister, with the names of the first deputy speaker of the Seimas, Juozas Olekas.

Also, Social Security and Labor Minister Inga Ruginiene mentioned in the political corridors.

Lithuanian President Gitanas Nauseda welcomed Paluckas’ decision to resign as prime minister, describing the step as the only right choice.

Under the Constitution of Lithuania, the entire Cabinet must step down along with the prime minister.

Since Mr Paluckas was named as prime minister in the current centre-left coalition agreement, a new agreement will also need to be negotiated.

Mr Paluckas announced his resignation amid two pre-trial investigations into his business dealings and controversy surrounding his involvement in a business.

The business tied to certain businesspeople and failure to pay damages owed to the Vilnius municipality.

Mr Paluckas said that he did not feel he made any serious mistakes but wanted to prevent the governing coalition and cabinet from becoming hostages to the political scandals surrounding him.

“Seeing how these escalating scandals are bogging down the work of the government, I believe I cannot allow our ruling coalition and cabinet to become hostages to these controversies. That’s why I have decided to take a swift and firm decision,” Mr Paluckas said in a statement released by the party.

(Xinhua/NAN)