He will lead the company through the restructuring process.
On Monday morning, the government held a session and decided to appoint Ante Ramljak as emergency management commissioner in Agrokor, Croatia’s largest privately-owned company, which on Friday initiated proceedings according to the so-called “lex Agrokor”, or law on systemically important companies, which was adopted by Parliament on Thursday.
Ramljak will lead the company through the restructuring process and negotiate with Agrokor’s creditors and suppliers, who have recently stopped delivering their goods to the Agrokor-owned Konzum retail chain, the largest in Croatia, due to unpaid debts.
Speaking at the government’s session, Prime Minister Andrej Plenković said that the decision on the commissioner was the only topic on the agenda. He thanked Ramljak for accepting the appointment.
“We have made sure that there is no undesirable effect and chain reaction and panic in financial markets, and thanks to the patience of suppliers we have ensured the supply of Agrokor. Now, we are making a political decision which will lower the tensions in the markets,” said Plenković. He added that he would meet later today with representatives of suppliers and that the government would take care of small vendors. He also said that the government would, in agreement with the banks, ensure new liquidity and unfreeze bank accounts of Agrokor’s companies, which will be coordinated by the commissioner. The second phase will be the restructuring of the company, after the commissioner gains insight into the state of Agrokor.
Deputy Prime Minister and Economy Minister Martina Dalić said that this was an important moment, because the process of solving the problem was about to start. In recent weeks, the problem had become worse, creating uncertainty among suppliers, and the commissioner will start with the payments. Claims that suppliers would have to wait for 15 months for payments are not true. “The smallest suppliers which have been waiting for long will be a priority and schedule of payments will be prepared this week. Also, salaries of employees are the top priority this week,” said Dalić.
Agriculture Minister Tomislav Tolušić said family farms and small suppliers would have their invoices finally paid.
“This solution does not mean amnesty for those responsible for this situation,” added Interior Minister Vlaho Orepić.
From 1997 to 2007, consultant Ante Ramljak was the CEO of the Croatian branch of the investment-consulting firm CAIB, where he was responsible for projects, mergers and acquisitions in Croatia, Bosnia and Herzegovina and Slovenia.
In 2007, he was employed by Quaestus, a company led by Borislav Škegro, HDZ’s finance minister during the 1990s. In 2012, Ramljak became the head of the Department of Energy at the Centre for Monitoring Operations of Energy Sector and Investments. He was appointed to that post by the government at the time when Radimir Čačić was First Deputy Prime Minister and Economy Minister. Ramljak was also a member of the supervisory board of the Croatian Electric Company, where he was appointed by Čačić as well.
