With Ivica Todorić no longer at the top and the Cibona tower no longer the company’s premises – the end of an era for Agrokor looms.
The Agrokor crisis rocked the country to a degree hardly thought possible at the beginning of this year, resulting in a political fallout of extreme proportions, and more importantly, a threat to the entire domestic economy. Owing to the creation, signing and subsequent passing of the Lex Agrokor law at the right time, much of what could have been was thankfully avoided and the Croatian economy managed to bypass a large portion of the Agrokor shaped earthquake that most gravely threatened it.
Since then, Agrokor has seen a government appointed extraordinary administrator take over the management of the ailing company, and Ivica Todorić, the former boss, flee to the British capital and turn himself in to the London Metropolitan police following the release of a European Arrest Warrant. A proverbial (and hardly describable) whirlwind of events have occurred, on which we’ve reported extensively, and it seems that Croatia’s largest economic player is facing the harsh winds of change.
As Poslovni Dnevnik writes on the 4th of December, 2017, as of today, Agrokor’s employees have moved from what has become the iconic Cibona tower to new premises at Žitnjak.
The resettlement decision was made with the view of better managing the total available business premises within Agrokor’s system.
The number of employees of the Agrokor’s top companies are almost twice as low as it was at the very beginning of this year, and most of the tower space in the Cibona tower wastefully went unused. Owing to this fact, it was decided that a large part of the company’s forces be moved to a more approptiate location – Žitnjak.
It is indeed, much like the ”loss” of Ivica Todorić as its boss and majority owner, an end of an era for Agrokor, as the Cibona tower, which had become unanimous with Croatia’s largest privately owned company, was Agrokor’s administrative building for almost 18 years.
Agrokor purchased the first fourteen floors from Astra at the end of 1999, while the rest of the business space in the tower was bought by its former owners in the upcoming period, right up until the year 2010. Today, Agrokor is the majority owner of the Cibona business tower with a 76.03% stake and an impressive 5.905.16 sqm of office space. Agrokor’s new administrative building on Žitnjak has a total area of 1758.70 sqm, of which the surface area of the office is 1000 m².