- The Supervisory Board invites the Management Board to finalise the refining strategy and the overall company strategy
- Supervisory Board has unanimously concluded that INA’s two largest shareholders should agree on the strategy and corporate governance model
Zagreb, 2 October – Today INA’s Supervisory Board held a session on which, among other things, strategy of Refining and Marketing Business Division had been discussed.
Regarding the discussion held on INA Refining and Marketing strategy and proposed measures to achieve sustainable and profitable operations, considering that maintaining the current operational model of Refining & Marketing division of INA causes significant losses to INA, the Supervisory Board invites the Management Board to finalise the refining strategy and the overall company strategy in best commercial interest of INA.
The Supervisory Board suggests the Management Board to put special attention on socially responsible and correct treatment of all who would potentially be affected by the proposed decisions. This includes severance payments but also development of additional local employment possibilities and development options for an alternative industrial production activity on site in Sisak taking into consideration all interested parties (the employees, the local community, the state, the suppliers etc.).
Additionally, the Supervisory Board has unanimously concluded that INA’s two largest shareholders in the best interest of the company should agree on the strategy and a mutually acceptable corporate governance model.
About INA Group
INA Group has the lead role in oil business in Croatia and plays a major part in oil and gas exploration, oil refining and distribution of oil and oil derivatives in the region. INA Group is made of a number of affiliates fully or partially owned by INA, d.d. The Group is seated in Zagreb, Croatia. Apart from Croatia, INA today has upstream projects in Angola and Egypt. Oil refining is done in INA’s refineries in Rijeka and Sisak, while its retail network consists of 449 petrol stations in Croatia and the region.
Avenija Većeslava Holjevca 10, Zagreb
Tel: 01 6450 552|Fax: 01 6452 406| @: email@example.com
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