Ljubljana - Boštjan Košak, a business executive with more than 25 years of experience in telecommunications and new technologies, was appointed as the new chairman of Telekom Slovenije for a four-year term, taking over tomorrow, the state-owned telco said in a press release on Monday.

Košak has 15 days to put forward three executives to fill what will be a six-member board which now features him, Mitja Štular and works director Špela Fortin.

"The supervisory board sees the appointment of Košak, who has excellent knowledge of telecommunications, new technologies and development trends, as chairman of the management board, as a step in the direction of strengthening the Telekom Slovenije group's marketing and development potential," said the company.

Telekom is faced with a period of challenges related to a highly competitive market, a dynamic and regulated industry, and investments while the company will also have to show adequate business results, the release said. "It is thus key for the company to be led by a professionally qualified and highly motivated team."

A graduate of economics, Košak worked for several telecommunications companies, including at Croatia's Amis Telekom (2005-2015) and Slovenia's Amis (2006-2016).

When Amis was bought in 2015 by Austria's Telekom Austria, he became executive director and procurator of Simobil and of A1 Slovenija when Simobil was renamed.

Since 2018, he has led ADBK and Marinrene, as well as Botera, a company in the robotic automation business.

The new chairman is succeeding Cvetko Sršen, who took over in March 2021 and whose term ended prematurely today in line with an agreement reached in September.

The supervisors agreed with the management on 2 September that Sršen's and member of the board Barbara Galičič Drakslar's terms would end when new board members were appointed but not later than 31 October, while dismissing for cause Tomaž Jontes.

A few days later, the shareholders appointed four new members of the supervisory board upon the proposal of SSH, the custodian of state assets, including Žiga Debeljak, SSH chairman and the bad bank's chairman, who is currently also Telekom's chief supervisor.