Management of the Holding Company

The management and governance of the Istrabenz Holding Company are organised in a two-tier system in which the Management Board with its executive functions and the Supervisory Board with its control powers play a central role. The Management and the Supervisory Board are in constant dialogue.

Work of the Management Board

The main task of the Management Board is to manage the operations of the Istrabenz Holding Company on the basis of agreed strategies and policies approved by the Supervisory Board.

Other important tasks of the Management Board include defining the corporate strategy, drafting the business plans and their implementation, securing resources and developing key management staff.

Key business guidelines, strategies and goals of the Holding Company are presented in the Strategic Business Plan. The Management Board is tasked with drafting and implementing it.

Members of the Management Board are appointed by the Supervisory Board for a five-year term of office with the possibility of re-appointment.

Work of the Supervisory Board

The Supervisory Board is responsible to the shareholders for supervising the decisions made by the Management Board which are of fundamental importance to the Istrabenz Holding Company. In consultation with the Management Board it monitors implementation of the adopted business strategy.

The Supervisory Board of the Istrabenz Holding Company is composed of nine people, namely a President, a Deputy President and seven members. In line with the Workers’ Participation in Management Act, three members are workers' representatives.

Six members of the Supervisory Board are appointed by the General Meeting of Shareholders by a simple majority of shareholders present.

The members of the Supervisory Board are elected for a period of six years, after which they may be re-elected. Three members of the Supervisory Board are workers' representatives. They are appointed by the union steward on the basis of the workers' votes.