Aluminij Management Dismissed, Ružica Udovičić Appointed Acting Director

Members of the Supervisory Board of Aluminij d.d. Mostar today adopted a Decision to dismiss Nikica Ljubić from the position of Director of the Company, along with the entire Management Board and executive directors Ivan Grle, Tomislav Lovrić and Amar Hadžiomerović, reports the Patria news agency.

The session, convened after the rejection of the proposed Annual Report for 2014 at the last Shareholders' Assembly of Aluminij, was called with the aim of voting on confidence in the current management.

The decision on dismissal was adopted with six votes in favor and one against, and the Chairman of the Supervisory Board, Dalibor Miloš, thanked Nikica Ljubić for his work so far, pointing to the necessity of the changes made, given that the accumulated problems would have reached a peak in a very short period, which would have meant the collapse of Aluminij.

In accordance with legal provisions, immediately after the dismissal, the Supervisory Board unanimously appointed Ružica Udovičić, a long-time employee of Aluminij who has held several responsible positions, as Acting Director of the Company.

Upon her proposal, Marinko Ivanović (technical affairs and development) and Marinko Ostojić Sušac (economic-financial, accounting and commercial affairs) were then appointed to the positions of acting executive directors. The acting executive director for legal, human resources and common affairs will be appointed subsequently.

The members of the new composition of the Company's Management Board will perform their duties until the appointment of the Management Board for a full term of four years, the company announced.