Croatia’s Vipnet is set to implement a new corporate structure by the beginning of next month.
Quoting sources close to the Telekom Austria-owned company, Poslovni reports that this would see its management board expanded by two or three new members from its current four and into one that would mirror that of its main competitor, the incumbent Hrvatski Telekom (HT).
It adds that Vipnet, which has hitherto operated solely in the cable and telecom sectors, may then, like HT, also start to provide other services, including electricity. This would improve its financial performance. Last year, its revenue fell by 1.8% to €371.3 million, while its operating profit was down by 1.5% to €83 million.
Ahead of these changes, Adrian Jezina, a board member and one of the leading industry M&A experts in South Eastern Europe, has decided to leave, after 15 years with the company, by October 1.