BiH’s power utility EPBiH gets new management

The new supervisory board of state-owned power utility Elektroprivreda BiH (EPBiH) has appointed its chairman, as well as the company’s new general manager and executive directors. The newly appointed members of the supervisory board, and the EPBiH general manager and executives, all have the “acting” status as the company plans to announce a public call to appoint the entire management.

The supervisory board dismissed the previous general manager and executive managers and appointed new ones after receiving the consent of the Government of the Federation of Bosnia and Herzegovina, EPBiH announced.

Of note, at the beginning of August, the government made a decision to dismiss the entire management of the company, and a few days ago the shareholders assembly elected a new supervisory board.

Sanel Buljubašić was appointed acting general manager

Ženja Ljubuškić, the new supervisory board chairman, members of the board, as well as the new acting general manager and executive directors, will perform the duties until the completion of the procedure to select EPBiH’s new management, the company said.

Sanel Buljubašić was appointed acting general manager, Fahrudin Tanović acting executive director for production, Edisej Sjerotanović acting executive director for distribution, Nevad Ikanović acting executive director for supply and trade, Sanela Jurišić acting executive director for economic affairs, Amra Ohranović acting executive director for legal affairs and human resources, and Harun Gadža acting executive director for capital investments.

The supervisory board will also be selected in a public call

The shareholder assembly of EPBiH had decided to dismiss the members of the previous supervisory board before the end of their term of office due to the loss of trust of the shareholders.

It dismissed the members of the supervisory board representing the government: Izet Žigić, Milenko Obad, Admir Softić, Safet Isić, Muhidin Zametica, and Selvedin Subašić. The member of the board representing the private investors, Ivan Gržić, was dismissed at his personal request.

The new members representing the government are Ženja Ljubuškić, Damir Okanović, Vedran Kaser, Milenko Obad, Idham Kruško, and Edin Hamzić, EPBiH said.

Ivan Gržić was reappointed as member of the board representing the private investors

Ivan Gržić was reappointed as a member of the board representing the private investors. His term is four years, while the other members will serve until the end of the public call or up to three months.

Of note, local media reported that the dismissal of the EPBiH management was requested by miners who protested in Sarajevo at the beginning of August. The request was sent by the Independent Union of Mine Workers of the Federation of BiH, according to the reports.

EPBiH recorded a loss in the first half of 2023, but it has announced it expects a positive result at the end of the year, with a record profit of BAM 100 million (EUR 50 million).