GEN-I without full-fledged management, court to meet tomorrow

Ljubljana – The shareholder meeting of energy trader GEN-I did not take a decision on the new management on Tuesday, because the company’s two shareholders had failed to harmonise their proposals before the shareholder meeting where decisions are taken unanimously. A court is now meeting on Wednesday to potentially appoint a new chairman.

GEN-I has been without a full-fledged management team since 17 November, after Robert Golob failed to win another term in what some described as political staffing.

However, he was one of the candidates for the top post in the company until last week, when he withdrew his consent and announced his intention to enter politics.

The District Court in Krško will be deciding on appointment of an interim GEN-I chairman of the board tomorrow.

This is after it decided on 7 January to meet a day after the 25 January shareholder meeting, on whose agenda was the appointment of the new management.

The court had three competing proposals on the table, with two putting forward Golob as the candidate and one Martin Novšak, director general of GEN Energija, which owns GEN-I together with GEN-EL.

Should the court fail to appoint a new chairman, plenipotentiaries will continue to run the company until the next shareholder meeting appoints a new chairman. A new AGM is to be held in 30 days.

GEN-I’s owners are GEN Energija and GEN-EL, each holding 50% of the company, and GEN-EL is co-owned by GEN-I and GEN Energija.