The INA Supervisory Board has prolonged the term of INA Management Board President Sandor Fasimon until 31 March 2024, the oil company said in a statement.

Fasimon was appointed INA Management Board President on 1 July 2018 for a period until 30 June 2021. He came from the post of MOL CEO, replacing Zoltan Aldott.

The INA Supervisory Board today also appointed new INA Management Board members Ferenc Horváth and József Simola, who previously served as MOL representatives on INA’s Supervisory Board.

Horváth and Simola will replace MOL representatives Ákos Székely and Zsolt Pethő, whose terms were to expire on 30 June but they will leave INA at the end of January.

INA’s Management Board, whose two biggest stakeholders are the Croatian government and the Hungarian oil and gas group MOL, has six members, of whom three are representatives of MOL (which also contributes the Management Board chair) and three are representatives of the Croatian state.

The Croatian members of the INA Management Board are Niko Dalic, Barbara Doric and Darko Markotic.

MOL holds slightly more than 4.9 million shares or a 49.1% interest in INA while Croatia holds 4.48 million shares or a stake of 44.8%.