INA Management Board reappointed for a year

The Supervisory Board of the INA oil and gas company on Wednesday reappointed Zoltan Aldott as Chairman of the Management Board for a period from 1 April 2016 to 31 March 2017, the company said in a press release.

Gabor Horvath and Peter Ratatics were reappointed as Hungarian members of the Management Board and Niko Dalic, Ivan Kresic and Davor Mayer were reappointed as Croatian members of the Management Board.

Under the shareholders' agreement, three members of the Management Board, including a Chairman, are appointed by the Hungarian oil and gas group MOL and the other three by the Croatian government. MOL holds 49.08% of shares in INA and the Croatian government holds 44.84%.

Earlier on Wednesday, Economy Minister Tomislav Panenic told the press that he had suggested extending the terms of the present Croatian members of the INA Management Board for another year.

Dalic, Kresic and Mayer were appointed during the government of Prime Minister Jadranka Kosor. 

The Supervisory Board also approved audited financial statements for 2015, including an independent auditor's report, and discussed a status report on INA Group in 2015, raising no objections to the report. The Supervisory Board also adopted the Management Board's proposal on loss coverage.

Last year INA Group generated a sales revenue of HRK 18.86 billion, which was 21 percent less than in 2014, while net profit excluding one-off items dropped by 83 percent to HRK 58 million, the company's annual financial statement shows.

Last update: Wed, 30/03/2016 - 18:21

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