A curious situation has cropped up at gas utility SPP as the Supervisory Board and the Board of Directors try to get in first as new nominees are set to take up their posts.
The Board of Directors of the company has convened a General Meeting for tomorrow, so that it can replace the state’s representatives in the Supervisory Board and the BoD, as the posts are still held by the former coalition SDKU and SaS parties, reports an article in SME yesterday. Nominees for posts in the company bodies have to be announced at least 30 days in advance at the registered office, so as not to disadvantage shareholders.
If this term were respected, it would then mean that the winners of selection proceedings, the nominated candidates, would have been known at the beginning of May. Otherwise, the outcome of the General Meeting may be contested by the recalled members of the bodies, or the unsuccessful candidates, for instance.
The Supervisory Board will therefore be replaced before the General Meeting that it convened for the end of June, because it seems the government wants to replace the candidates of the former government so they can no longer influence the company’s direction. the Supervisory Board contests that the BoD does not provide it with sufficient information, especially regarding pending lawsuits.
Who will be recalled from the Board of Directors:
To be recalled from the Supervisory Board:
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