Changes in the Management of Penalized B2 Kapital: Kristina Pijović Takes the Lead Position

Kristina Pijović has taken the lead position at B2 Kapital, replacing Tanja Miljanić Presečki, who has been the CEO since 2019. Pijović has been appointed as the new director of the company, and a total of six procurators remain alongside her.

Additionally, Nebojša Popović, who has been a member of the Management Board since 2020, has also left the Management Board, while Ivan Cicvarić and Luka Lambaša have vacated their positions as procurators. Pijović has also replaced Miljanić Presečki and Lambaša in the director position at B2 PORTFOLIO.

Pijović comes to the head of the company in Zagreb from the position of General Manager for Serbia and Montenegro, and has been a member of the Management Board of H-ABDUCO since 2019.

A Series of Problems

The company recently received a fine from the Agency for the Protection of Personal Data amounting to €2.27 million due to violations of the General Data Protection Regulation. The Agency received an anonymous tip in December last year stating that there had been unauthorized processing of a large number of personal data of individuals, along with a USB stick containing personal data.

According to the Agency’s announcement, the problem arose due to non-transparent processing of personal data of more than 130,000 respondents. Furthermore, it was stated that ‘the data controller did not enter into a contract for the processing of personal data with the processor for the service of monitoring simple consumer bankruptcy, thus compromising the security of personal data of 83,896 respondents (OIB)’.

It was also defined that appropriate technical and organizational measures for the protection of personal data were not taken during the processing, thereby violating the security of personal data of all respondents, specifically their basic identification data (at least in the structure: name and surname, date of birth, and OIB), and ‘consequently all personal data recorded in the systems of the debt collection agency, which are of a financial nature and are therefore quite sensitive’. In total, in this specific case, ‘more than 77,000 users have been affected’.

Additionally, the company experienced stagnation in terms of business results last year. Specifically, the company’s revenue in 2022 was slightly less than €48 million, which is a decrease of 0.83% compared to €48.3 million from the previous year. However, although gross profit increased by 26% (from €14.99 million to €20.35 million), 11% of that amount is expected to go towards paying the aforementioned fine.