INA Supervisory Board’s Croat Members Meet with PM and 3 Ministers

Total Croatia News

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The meeting took place in Government House on Tuesday afternoon ahead of a session that the Supervisory Board is expected to hold on Wednesday after the arrest of five suspects who are believed to have been involved in the gas resale scam and thus embezzled at least HRK 848 million (approx. €113 million) from INA.

The President of the Supervisory Board, Damir Mikuljan told the national broadcaster (HRT) on Tuesday evening that during the meeting in Government House they had exchanged information concerning that case.

“So we have exchanged all the information available to us, however, it is not enough to help us to get a complete insight into the case. Therefore we expect tomorrow’s session (of the supervisory board) to help us to get a complete insight.”

Mikuljan expects the answers to the questions of how the management chain failed and what should be now done to amend the business processes in INA and to make them transparent.

Mikuljan said that the claims made by the ex-chairman of the Supervisory Board, Damir Vanđelić, that he had warned about the losses and personnel changes in INA, surprised him since the Supervisory Board “has made all the decisions unanimously.”

 Of course, discussions were held and some differences in the opinions were expressed at that session, however, in the end we would make unanimous decisions, said Mikuljan, who wondered about the purpose of Vanđelić’s claims.

INA is jointly owned by the Hungarian energy group MOL and the Croatian state, with MOL being the biggest individual stakeholder.

The nine-member Supervisory Board consists of five seats allocated to MOL, three to the government, and one to the employees. The Supervisory Board chair is designated by the Croatian government.

INA’s Management Board has six members, of whom three represent the government and three MOL, while MOL nominates the Management Board chair, who has a casting vote.


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