EPS corporatization launched

BELGRADE - Public enterprise Elektroprivreda Srbije (EPS) launched the corporatization process on Monday, EPS Director General Aleksandar Obradovic said at a news briefing.

Presenting the new board of EPS executive directors that will be in charge of managing the company, Obradovic underlined that thereby a clear system of responsibility will be set up, and there will be no more misunderstandings in the communication between the parent company and subsidiaries.

The first phase of corporatization will be completed by July 1, 2015, and by that point the number of separate legal entities within EPS will be reduced from 14 to three, while the second phase of corporatization will be completed by July 2016, when EPS will be transformed from a state-owned company to a joint-stock company.

Obradovic said that the EPS corporatization will save around EUR 36 million annually.

The recently appointed members of the board of executives include: CFO Aleksandar Surla, Corporate Affairs Executive Director Dragan Rajcic, Executive Director of Coal Production Slobodan Mitrovic, Executive Director of Electricity Production Dragan Jovanovic and Executive Director for Electric Power Distribution and Distribution System Management Zoran Rajovic.

Dragan Vlaisavljevic was appointed executive director for wholesale electricity supply, and Tomaz Oresic was named executive director for electricity supply.

The board is chaired by EPS Director General Alksandar Obradovic.

Photo Tanjug/Rade Prelic