CEZ Announces Change in Organization Structure; Announces New Appoints to its Divisions
March 27, 2014 at 06:48 pm IST
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CEZ announced that it is changing its organization structure, one of the changes being a merger of the sales and strategy divisions into one to be headed by hitherto Chief Strategy Officer Pavel Cyrani. The structure of other divisions will be changed as well. The newly defined divisions are a reaction to the latest development of the European energy sector, where the influence of regulation and legislation on running of business is becoming growingly stronger. All changes are valid as of May 1.
The company announced that division of distribution and foreign countries division will change into a division of foreign countries, which will be headed by board member Tomas Pleskac. In addition, the company will set up a division of external relations and regulation, which will be headed by board member Ivo Hlavac. Cyrani, before coming to CEZ in 2005 he worked for McKinsey & Company. In 2004-2006, Svoboda held the position of CEZ board deputy chairman. He left the post owing to a suspicion of insider trading.
CEZ, a.s. specializes in producing and distributing electricity. Net sales break down by activity as follows:
- electricity sale and resale (53.4%);
- sale of natural gas (3.9%);
- sale of heat (3.8%);
- sale of coal (2.2%);
- other (36.7%).
Net sales are distributed geographically as follows: Czech Republic (67.1%), Bulgaria (8.9%), Romania (7.9%), Germany (6.7%), Poland (4.9%), and other (4.5%).