While Gorenje will have to hold a shareholders' assembly, since Dutch company Home Products Europe holds exactly the 5% stake required to call it, the supervisors stressed their replacement would have to be backed by at least three quarters of the shareholders present at the assembly.

Home Products Europe proposed last week that its authorised representative Philip Alexander Sluiter, a former member of the Gorenje management board, be appointed to the supervisory board along with experienced manager Robert Ličen.

The pair would replace chief supervisor Marko Voljč and board member Uroš Slavinec, with the Dutch company calling for strengthening the board with "supervisors who have top knowledge and experience in the household appliances industry".

The business newspaper Finance reported unofficially that the Dutch shareholder was bothered by alleged close friendly ties between the management and the supervisors, seven of which represent capital.

The supervisors wrote in response that it is "normal" after so many years that "the relationship between chairman Franjo Bobinac and supervisory board members grew stronger".

They however denied "strongly that this affects the board's discussions and decisions in any form".

They moreover wished to "stress that the supervisory board is united and rejects any speculation about differences among board members, speculation that could be prompted by Sluiter's demand for replacing two members".

The board added that the Gorenje group was facing a turbulent period that required stable leadership and that proceedings had already been launched for the regular appointment of supervisors for the next term in July next year.