Fri, May 25 2012

Energy monopolies headed for April 2010 bourse debut

Thu, Sep 24 2009 11:58 CET

byDnevnik.bg

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Energy monopolies headed for April 2010 bourse debut

Photo: Assen Tonev

As it seeks to tame the effect of the economic recession, the Bulgarian Government plans to convert the country’s state-run energy behemoths into public companies, floating 15 per cent of their stock on the local bourse.

The measure forms part of a set of measures put together by the Cabinet of right-of-centre party GERB that should be implemented between July 27 2009 and April 27 2010 to help the economy recover.

"We will prepare the necessary legislative changes to meet the timeframes set by the government," Economy Minister Traicho Traikov said. The ministry is yet to pinpoint the energy companies that will head for the Bulgarian Stock Exchange (BSE) and is now busy examining the role and the structure of the Bulgarian Energy Holding (BEH), the catch-all company for the main state-owned energy assets.

Earlier this month, Finance Minister Simeon Dyankov unveiled plans to list on the BSE a stake in BEH or its subsidiaries. Speaking to bTV at the time, he said that the Government could shut down BEH, listing 15 per cent of its big-name subsidiaries such as power grid operator NEK, gas company Bulgargaz and nuclear power plant Kozloduy.

The announcement was welcomed by analysts, who said it will give a much-needed shot in the arm to the Bulgarian bourse that was rattled by the economic storm. They predicted the move will generate substantial interest from both domestic and foreign investors.

Source: Dnevnik

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Appointments

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Employment Agency

Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.

Uniqa

Uniqa

Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.

Beiersdorf

Beiersdorf

Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.

Kamenitza

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Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.

Hewlett-Packard

Hewlett-Packard

Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.

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