Ilija Karamatić, director of Felxway Adriatic, through which the company Flexway from Dubai took over Zvečevo this spring, resigned at the end of July from his position as a member of the Management Board of Zvečevo, where he had been for only three months, in order to enter its Supervisory Board, where he was immediately elected president. Thus, the Management Board of Zvečevo became a single-member body again, with Hrvoje Alvir as its president, the only remaining Alvir in leading positions in the Požega company.
The new owner of Zvečevo, immediately after purchasing the majority stake from Zdravko Alvir, quickly and vigorously began to organize all types of relationships within it, primarily ownership ones. The first action in this direction was an offer to minority shareholders for takeover, which successfully concluded with Flexway acquiring 95.2 percent ownership in Zvečevo. The next move is expected to be the announcement of the intention to squeeze out the remaining shareholders and withdraw Zvečevo from the Zagreb Stock Exchange.
Meanwhile, the composition of the Supervisory Board has almost completely changed, reflecting the new ownership situation. Of the four recent members of the Supervisory Board, only Anica Đurina (employee representative) remains in the new composition, while the three members trusted by the former owner have been replaced by three Australians, who have the trust of the new ultimate owner Denis Štengelov, a Russian billionaire living in Australia.
