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Jaroslav Mil Removed From The Post Of CEZ Chairman

The supervisory board of state-run power utility CEZ on Thursday removed Jaroslav Mil from the post of chairman of the board of directors, although he remains CEO of the company, Mlada fronta Dnes reported.

According to CEZ spokesman Ladislav Kriz, representatives of the trade and industry ministry initiated the proposal. They received support from a majority of the twelve-member board. Trade and Industry Minister Milan Urban and Finance Minister Bohuslav Sobotka discussed the change in the management of CEZ on Wednesday.

The proposal for a personnel change was caused by disputes between the management of the company and the state, which disliked, among other things, CEZ's participation in the privatisation of coal producers Sokolovska uhelna and Severoceske doly.

According to experts, during three years as head of the state-run power giant, Mil created a prospering company; however, the company did not listen to the wishes of the majority owner. Jaroslav Mil was appointed chairman of the board and CEO in July 2000.

It was the then Trade and Industry Minister Miroslav Gregr who had the main say in the appointment. By sales, CEZ is the third largest company in the Czech Republic, which last year turned over more than 55 billion crowns. The state controls two thirds of CEZ shares.

(NewsBase 24.x.03)

 
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