Zoltán Áldott is leaving his position as the Chairman of INA Management Board, having been elected into the supervisory boards of MOL, Hungarian oil and gas corporation, and Slovnaft, an oil refining company in Slovakia, the press release from MOL said on Thursday.

Mr Áldott was elected into the Supervisory Board of MOL, which oversees company activities in more than 30 countries, at the MOL General Assembly meeting held on 12 April in Budapest. A week earlier, on 5 April, he was elected into the Supervisory Board of Slovnaft.

Zoltán Áldott has announced that his departure from INA will follow the General Assembly meeting in June. MOL wants to put forward Sàndor Fasimon, MOL’s Chief Operating Officer, to replace Aldott as Chairman, the press release said.

Mr Áldott has officially notified the president of INA supervisory board, Damir Vandjelic, of his resignation, and he will continue to perform his duties until the board names his successor.

Áldott was elected Chairman of INA Management Board in April 2010, with the goal of saving the company from bankruptcy and reforming it into a profitable organization generating shareholder value. Mr Áldott dealt with serious challenges excellently, which is visible from INA’s 2017 positive results, MOL said.

MOL’s candidate for his successor, Sàndor Fasimon, is a member of MOL Executive Board, a position he will keep after taking over as chairman of the management board in INA.

He is one of MOL’s most experienced managers, known for his excellent negotiating skills and focused decision-making. In 2006, he successfully finalized the partial sale of MOL midstream gas assets to E.on, a private international energy supplier. He has increased the company’s efficiency and turned MOL into an excellent and efficient organisation, MOL said.