The President of the Management Board of INA, Zoltán Áldott, was elected on Thursday as a member of the Supervisory Board of the MOL Group and announced his intention to leave that position at INA after the company’s General Assembly is held in June. MOL announced that it intends to propose the appointment of Sandor Fasimon as the CEO of INA to the Supervisory Board of INA.
>>> Aldott: There is no market for two oil refineries in Croatia
At the MOL General Assembly held on Thursday in Budapest, Áldott was appointed as a member of the Supervisory Board of MOL, as well as a member of the Supervisory Board of Slovnaft at the General Assembly of that company held on April 5. As a member of the Supervisory Board, Áldott will no longer be a member of the Executive Board of the MOL Group.
Áldott will remain in the position of CEO of INA until the Supervisory Board appoints his successor, likely after the General Assembly of INA which will be held in June 2018.
Zoltán Áldott officially informed the Chairman of the Supervisory Board of INA that he wishes to resign from the position of CEO of INA, but he will perform all his duties until the Supervisory Board of INA appoints his successor.
Zoltán Áldott was appointed as CEO of INA in April 2010 with the aim of saving the company from bankruptcy and transforming it into a profitable organization that generates value for its shareholders.
>>> Petrov Calls Out the Government: Russian Capital is Entering Our Largest Companies, INA Will Go from a Racing Car to a Tricycle
“Áldott has excellently handled serious challenges, as evidenced by INA’s results for 2017. In addition, he has made maximum efforts to transform INA from a state-owned company into one that operates on market principles in accordance with the best international business practices,” stated MOL’s announcement.
Sandor Fasimon as a Replacement at the Helm of INA
MOL announced that it intends to propose the appointment of Sandor Fasimon to the position of CEO of INA to the Supervisory Board of INA.
“Fasimon has been a member of the Executive Board of the MOL Group since 2011, which will remain the case after he takes on his new position at INA. He is one of the most experienced managers. At the helm of MOL Hungary, he successfully increased hydrocarbon production in mature Hungarian fields after years of decline. Under his leadership, the Danube refinery in Hungary became one of the most efficient in Europe, and he also initiated the largest industrial petrochemical development cycle in Central Eastern Europe in Hungary. Fasimon has successfully increased the efficiency of the company’s operations and made Hungarian MOL an excellent and efficient organization,” MOL stated.
>>> Zoltán Áldott: We Will Transform and Expand Our Area of Work
He is known as a focused decision-maker and an excellent negotiator, for example, he successfully concluded the sale of MOL’s gas wholesale to E.on in 2006. His key tasks included a wide range of the most important issues in stakeholder relations, contacts with the government and state institutions, and during his tenure, MOL secured a large number of new potential concessions in Hungary, they added.
Fasimon joined MOL in 1998 as the supply director in the field of crude oil and crude oil products. Between 2006 and 2009, he was the general director of MOL in Russia, while in 2011 he became a member of the Executive Board where he was initially responsible for the Group’s exploration and production. In 2013, he was appointed head of MOL Hungary. He graduated from the State Institute of International Relations in Moscow and speaks English, Russian, and Arabic in addition to Hungarian.
