INA elects new Supervisory Board with five Hungarians in it

http://www.portfolio.hu/en/cikkek.td...

Wednesday, 10, June 2009 04:41:00 PM

Hungarian oil and gas group MOL has announced on Wednesday that the new Supervisory Board of INA was elected at the annual general meeting of the Croatian fuels company held on 10 June, following yesterday's conditional approval of the Croatian Competition Agency related to the INA transaction.

The following delegates were elected to the Supervisory Board of INA for a period of four years:

► DAMIR POLANÈEC (Vice Prime Minister and Minister of Economy, Labour and Entrepreneurship of Croatia)
► TOMISLAV IVIÆ (Member of Croatian Parliament)
► VESNA ORLANDINI (Ministry of Finance, Chief State Treasurer of Croatia)
► GYÖRGY MOSONYI (MOL Group CEO and Member of the Board of MOL Plc.)
► ZOLTÁN ÁLDOTT (Exploration and Production Executive Vice President of MOL Plc.)
► JÓZSEF SIMOLA (Corporate Centre Executive Vice President of MOL Plc.)
► ÁBEL GALÁCZ (Vice President for Corporate Business Development of MOL Plc.)
► OSZKÁR VILÁGI (CEO and Vice Chairman of the Board of Directors of Slovnaft a.s.)

In parallel with the changes in the Supervisory Board of INA, a new Management Board and executive directors are also elected today. These changes in corporate governance of INA are in accordance with the Amended Shareholders Agreement of INA, which has been signed on January 30, 2009, resulting in MOL taking operative control of INA. This enables the full consolidation of INA into MOL's financial statements as of 30 June 2009.