Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

INA’s Business Goes on ‘as Usual’ After CEO Arrest, Stern Says

Don't Miss Out —
Follow us on:

March 28 (Bloomberg) -- Business at INA Industrija Nafte d.d., the Croatian refiner controlled by Hungary’s Mol Nyrt, is “unaffected” by arrest of the chief executive officer, said Davor Stern, head of INA’s supervisory board.

“Business is going on as usual,” Stern said today in a phone interview.

INA’s CEO, Bojan Milkovic, was arrested March 25 on corruption charges. An investigative judge has ordered Milkovic to be held for 30 days as an investigation continues. Milkovic became the chief of INA in June 2009. Previously he was the head of INA’s drilling unit Crosco d.d.

Stern said there will not be an interim replacement for Milkovic. He reiterated a statement from March 25 that the investigation is not related to Milkovic’s current position, but to the job he held at Crosco.

Croatia’s market regulator today suspended trade in INA Industrija Nafte d.d. stock until April 1. It acted “following significant trading by foreign investors,” and to protect INA’s shareholders, the watchdog said in a statement on its website.

To contact the reporter on this story: Jasmina Kuzmanovic at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.