On the today’s meeting the Supervisory Board of Đuro Đakvić Group Plc. reached the decision on appointing the Management Board of the Company.

Since 1st January 2018, the Management Board of Đuro Đaković Group Plc. consists of Marko Bogdanović, President of the Management Board and Slaven Posavac, member of the Managerment Board.

Mr Bogdanović comes to the position of the President of the Management Board from the position of the member of the Management Board, and Mr Posavec is the former director of the Financing, Accounting and Controlling Sector of the Đuro Đaković Goup.

The Supervisory Board of the Company took the opportunity to thank the former President of the Management Board, Tomislav Mazal, for effective cooperation and efforts made in order to stop the negative trend in business of the Đuro Đaković Group after years of stagnation and losses incurred.

Tomislav Mazal spent nine years in the Đuro Đaković Group, starting as a member of the Supervisory Board, then being appointed member of the Management Board and finally appointed President of the Management Board of Đuro Đaković Group Plc.

Mr Mazal’s mandate expires on 31st December 2017. He will leave the group, after spending three and a half years as its chair.

As chairman of the Management Board, he started significant changes and, among all, the group started its strategic restructuring in 2014, according to the objectives set at that time, aiming for long-term sustainable development and business.

The effect of the measures implemented is seen in the gradual improvement of business indicators, since important steps have been made to revitalise the group.

In recent years, the Đuro Đaković Group has positioned itself in the market and has manufacturing programmes that can find markets for selling their products and services.

In the first nine months of 2017, for the first time in recent history, the Đuro Đaković Group generated more than half of its incomes from export, which means that the strategic decision on expanding the markets and reducing dependence on Croatian market has been achieved in full.

Due to the losses incurred, the company carried out two nominal capital increase procedures in the period from 2014 till 2017, and continues with the activities of finding the capital.

It is clear that the group has to deal with the remaining problems, which has to lead to the long-term sustainable business, since the segments that did not manage to implement all the restructuring measures are expecting further steps in 2018.