The government proposed on Wednesday, during a closed session, the appointment of Hrvoje Čuvalo as the president of the Management Board of the Croatian Bank for Reconstruction and Development (HBOR) for the upcoming five-year term. The government’s choice still needs to be formally confirmed by the Supervisory Board of HBOR. Čuvalo was a member of the Management Board in the previous term, which ended at the end of last week.
Due to the expiration of the five-year term of the previous Management Board of HBOR, the Ministry of Finance announced a public competition in mid-September for the selection of a new Management Board, president, and two members. The previous president of the Management Board, Tamara Perko, did not apply for this competition. Although there were speculations in the corridors about several possible names that could take over this extremely important position, Čuvalo has been considered one of the most serious candidates from the beginning.
Supporting this is the fact that Čuvalo was elected in early July this year for a two-year term as a member of the Governing Council of the European Association of Public Banks (EAPB) at the General Assembly of the association held in Milan. His appointment to a high position in the EAPB also indicates trust and recognition for HBOR as a development institution of one of the smaller EU member states, representing an important factor in the implementation of common European policies.
According to the government’s proposal, the new Management Board of HBOR, alongside Čuvalo as president, will also include Alan Herjavec and Josip Pavković as members of the Management Board.
