Hungary’s National Asset Management Company (MNV) has called an extraordinary general meeting of national carrier Malev to make changes to its boards, MNV told MTI on Tuesday.
The EGM is slated for Friday, July 23, MNV spokesman Zsolt Zichermann said when asked by MTI.
MNV said Malev chairman Zoltan Kamaras and board member Tamas Kelemen would resign. Shareholders will be asked to approve the appointments of four new members to the seven-member board: Laszlo Urban, Gusztav Bienerth, Janos Winkler and Laszlo Parragh. The board of MNV, Malev CEO Martin Gauss and minority owner delegates Anatoly Ballo and Peter Leonov have proposed Mr Urban be elected chairman.
The chairman and new board members’ mandates will be for five ears.
MNV will propose appointing Laszlo Madarasz the new chairman of the supervisory board and making Tamas Ivan Kovacs and Arpad Rozgonyi members of the board.
Malev was renationalised in February through a HUF 25.4bn capital raise by the state, including HUF 20.7bn in cash and HUF 4.7bn in converted debt. The state acquired a 95pc stake in the airline and former majority owner AirBridge kept 5pc. Russia’s state-owned Vnesheconombank (VEB) – Malev owes the bank about EUR 134m – owns 49pc of AirBridge.
After the renationalisation, Zoltan Kamaras was made chairman of the board of directors, while Martin Gauss, Tamas Kelemen, former Malev CEO Peter Leonov, Endre Torok, Akos Nemeth and VEB deputy-chairman Anatoly Ballo were appointed members.