The implementation of the settlement agreement between the creditors of Croatia’s Agokor food and retail conglomerate will start on April 1, when the management, currently run by the Emergency Administration, will be transferred to a new company called Fortenova Group, the conglomerate’s interim creditors’ council decided.

Fortenova Group is the new name for an umbrella company that will replace Agrokor d.d. and start operating on April 1, said a press release issued by Agrokor.

Of the 159 companies doing business within the Agrokor Group, 77 companies run by the emergency administration will be the first to undergo the implementation of the settlement deal.

Concerning the new corporate management structure, it is likely that the new, nine-member management board will include three executive directors. Current emergency administrator, Fabris Perusko, is a candidate for one of those three posts, while his Deputy, Irena Weber, is to be nominated for the posts of deputy chief executive director and chief operating director.