The Supervisory Board of Validus accepted the resignation of CEO Marina Bača at today’s meeting and appointed Vladimir Šelebaj – Sellier as the new CEO, Validus reported via the Zagreb Stock Exchange.
The new CEO Vladimir Šelebaj – Sellier, as stated, has a mandate to implement financial restructuring and stabilize the company’s operations in agreement with creditors and banks. Validus’s account remains blocked, the company states, adding that Podravka has initiated enforcement on Validus’s assets based on promissory notes for the recovery of a debt amounting to 25 million kuna.
"Fia Electricity has not delivered a bank guarantee or corporate guarantee within the stipulated timeframe according to the terms of the Acquisition Agreement, based on which it would conclude contracts with Pluris’s creditors, which would eliminate Validus’s exposure risk of its collaterals," the notice emphasizes. Validus also announces that the general assembly of Validus will be held on July 15, where a new structure of the Supervisory Board will be decided. Three new members of the Supervisory Board have been proposed – Ivan Brnardić, Krešimir Šurina, and Dean Montilia, as stated in the notice. (H)
