09/03/2019 CORPORATE

New Atlantic Grupa Management Board For New Growth

At a session of the Atlantic Grupa Supervisory Board held today, Lada Tedeschi Fiorio gave a statement on termination of her mandate on the Supervisory Board effective on September 30, 2019.

 In addition, the Supervisory Board made a decision on the appointment of three new members of the Management Board. As of October 1, 2019, Atlantic Grupa's Management Board will be expanded to six members, comprising President of the Management Board Emil Tedeschi and members Neven Vranković, Zoran Stanković, Lada Tedeschi Fiorio, Srećko Nakić and Enzo Smrekar. The strengthening of the Management Board is a logical continuation of the process of defining the corporate strategy and priorities in the further development of the Company, which started in February last year.

Through the review of overall business practices and the definition of strategy and corporate priorities, areas have been identified that underpin the transformation for the future, as well as key drivers of growth, to which overall organization will be adapting, starting with the organization of the Management Board. Key areas include the development of distribution, a focused international expansion of Atlantic Grupa's portfolio, and mergers and acquisitions. As a Member of the Management Board, Lada Tedeschi Fiorio will have the responsibility for Business Development and Strategy. She will leave the Supervisory Board due to assuming the new position, which is incompatible with membership of Supervisory Board of the Company. Srećko Nakić, as a new member of the Management Board, will take care of the overall distribution, while Enzo Smrekar will have the responsibility for managing the Argeta and Donat Mg brands, which have the highest international potential within the Atlantic Grupa portfolio.

At the session, the Supervisory Board also adopted the proposal for the Decision on the appointment of Mrs. Monika Schulze as the new member of the Supervisory Board of the Company. The proposal will be forwarded to the General Assembly for adoption. Monika Schulze is the Global Head of Customer and Digital Experience at the Zurich Insurance Group. With extensive experience in the insurance and consumer goods industries, she has been successful in senior executive positions in various countries for 30 years. Among other things, she was Vice President of Brand Development for Europe at Unilever, and ran her own strategic consulting firm. In 2018, Martech listed Monika as one of the "Top 12 Women in Technology to Follow on Twitter," and a year earlier Forbes recognized her as "one of the world's most influential marketing executives". Based on her notable achievements, AdAge nominated her for the "Woman to Watch Europe 2017" title.

The General Assembly of the Company is scheduled for October 17, 2019. The invitation to the General Assembly with proposals for resolutions suggested for adoption shall be announced to the public within the time limits and in the manner prescribed by law. Additionally, as of October 1, Siniša Petrović will assume the position of Vice President of the Supervisory Board, and the President Supervisory Board Zdenko Adrović will also assume membership in the Audit Committee.