Slovenia, GEN Energija has dismissed the group’s CEO Martin Novsak

, SEE Energy News

The Supervisory Board of Slovenian energy group GEN Energija has dismissed the group’s CEO Martin Novsak.

The statement from the company said that Board member Gordana Radanovic will temporarily fill the position until the new CEO is appointed. The company did not provide any information about the reason for the dismissal of Novsak.

Slovenian media speculate that State Secretary at the Ministry of Infrastructure Blaz Kosorok will most likely replace Novsak as the head of GEN Energija.

GEN Group recorded a consolidated net profit in the amount of 80 million euros in 2021, compared to 65 million euros profit a year before. Revenues on the group level reached 3 billion euros last year and the group invested a total of 100 million euros.

However, the parent company GEN Energija recorded lower profit in 2021, which fell to 26 million euros, compared to 45 million euros in 2020, with the same revenues of 230 million euros.