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New CEO of INA Announced

Peter Ratatics will be the new CEO of INA, while the remaining two Hungarian members will be Krisztian Pulay and Berislav Grašo. Alongside them, three Croatian members will also be proposed at the company’s Supervisory Board meeting on Wednesday, reports Index.

It is worth noting that two Hungarian members of INA’s Management Board Jozsef Simola and Ferenc Horvath resigned last week, and prior to them, the CEO of INA Sandor Fasimon also resigned, with Ratatics set to replace him.

A significant shake-up at the helm of this company occurred following the outbreak of a massive scandal in which gas from INA was purchased at low prices and then resold at higher prices. It is estimated that INA has been damaged by more than one billion kuna.

Last week, Croatia proposed that the members be Hrvoje Šimović and Miroslav Skalicki, as well as Emanuel Kovačić. However, Kovačić withdrew his candidacy, despite having previously accepted it, which led to the postponement of the Supervisory Board meeting. The government now needs to propose a new candidate, and it is expected that he will be proposed by Wednesday when the Supervisory Board meeting of INA is scheduled to take place, during which the three Croatian members who did not want to resign – Niko Dalić, Barbara Dorić, and Darko Markotić – will be dismissed.

Peter Ratatics, who is taking over as CEO, was born in 1982. He graduated in economics in 2006 in Budapest. He began working in 2007 for MOL, where he held numerous managerial positions. He was also the Senior Vice President of the corporate Center responsible for procurement, human resources, and communications activities of the MOL Group.

In 2016, he became the Chief Operating Officer for customer services of the MOL Group, and in 2018, he was promoted to the position of Executive Vice President for customer services. Ratatics became a member of the Executive Board of the MOL Group in February 2018. His new leadership position at INA will not be his first contact with the company. From 2011 to 2018, he was a member of the Hungarian side of the Management Board.