Medica, who holds an MBA, worked as manager at Johnson&Johnson for 19 years, most recently as director for Central and Eastern Europe, before joining the insurance group Sava Re in 2015.

At Sava re he oversaw the merger of four insurance businesses and served as board member in 2016 and 2017, SSH said on Wednesday.

Božič started a four-year term in January this year. While SSH did not reveal why he is leaving, some media reports suggest he is being groomed for the top job at the emerging State Hospitality Fund, which will be created to pool together the assets of several partially or wholly state-owned tourism firms.