State-owned power company launches "corporization process"

Public enterprise Elektroprivreda Srbije (EPS) has launched its "corporatization process" on Monday, says EPS Director General Aleksandar Obradovic.

Izvor: Tanjug

Monday, 02.02.2015.

16:31

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(Tanjug)

State-owned power company launches "corporization process"

The first phase of corporatization will be completed by July 1, 2015, and by that point the number of separate legal entities within EPS will be reduced from 14 to three, while the second phase will be completed by July 2016, when EPS will be transformed from a state-owned company to a joint-stock company.

Obradovic said that "the EPS corporatization will save around EUR 36 million annually."

The recently appointed members of the board of executives include: CFO Aleksandar Surla, Corporate Affairs Executive Director Dragan Rajcic, Executive Director of Coal Production Slobodan Mitrovic, Executive Director of Electricity Production Dragan Jovanovic and Executive Director for Electric Power Distribution and Distribution System Management Zoran Rajovic.

Dragan Vlaisavljevic was appointed executive director for wholesale electricity supply, and Tomaz Oresic was named executive director for electricity supply.

The board is chaired by EPS Director General Alksandar Obradovic.

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