The multi-utility conglomerate Zagreb Holding's assembly on Monday relieved the company's supervisory and management boards of their duties, appointing Suzana Brenko Supervisory Board chair and Ratko Bajakic and Damir Topic its members, Zagreb Mayor Tomislav Tomasevic's office said.

The temporary Zagreb Holding (ZGH) Management Board was appointed as well, with two new members, Nikola Vukovic as Management Board chair and Ante Samodol as a member.

At a meeting held with Mayor Tomasevic last Friday, the ZGH management, headed by Ana Stojic-Deban and Supervisory Board chair Ljubo Jurcic, reported on the conglomerate’s financial situation and losses incurred in 2020.

An audited and consolidated report for 2020 shows that ZGH has, for the first time in the last seven years, incurred a loss of 305 million kuna, the mayor’s office said, noting that urgent action was required to start with its restructuring.