Mižigoj, still serving as adviser to the company at the age of 88, has been with Medex for 55 years.

He became director in 1961 when the company, involved exclusively in honey exports at the time, was on the brink of bankruptcy and went on to expand its products portfolio. The company was profitable every single year in the 40 years he was in charge.

Medex, which has been fully owned by the Mižigoj family since 2016 and is now ran by Aleš Mižigoj's daughter Aleša, also survived the loss of 70% of its market with the collapse of Yugoslavia.

It has more than 80 workers today, cooperates with 2,000 Slovenian honey producers and exports to more than 20 markets. It recorded a net profit of EUR 1.5m on EUR 14m of revenue in 2015.

Gorazd Lampič, the director of electric motor producer Elaphe was named the young manager of the year. He told the STA global thinking and ambition were the key to success.

The awards were conferred at a meeting of the Managers' Association that was also addressed by Prime Minister Miro Cerar, who said the government was working on improving the business environment. "Higher employment is the best social policy," he said.

He said the government had several economic policy priorities, foremost among them the expansion of the rail track between Divača and the port of Koper. Preparatory works are scheduled to begin in the second half of this year.