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PM SAYS REPLACEMENT OF LENAC SHIPYARD CEO NOT UP TO GOVERNMENT

RIJEKA, July 12 (Hina) - Croatian Prime Minister Ivica Racan said on Saturday the replacement of Damir Vrhovnik as CEO of the Viktor Lenac shipyard was exclusively within the competence of owners and stockholders and definitely not the government.
RIJEKA, July 12 (Hina) - Croatian Prime Minister Ivica Racan said on Saturday the replacement of Damir Vrhovnik as CEO of the Viktor Lenac shipyard was exclusively within the competence of owners and stockholders and definitely not the government. #L# Responding to questions from the press, Racan said the appointment of a new board was "a matter for owners and stockholders". "The government won't be an obstacle to their decisions, whatever they are". However, the PM added, the government will be very interested in seeing what stockholders will do with the Rijeka-based shipyard in the future, primarily in view of keeping jobs. The government expects the owners to appoint a management board that will make Viktor Lenac stable and profitable again, he said. Asked how his friendship with Vrhovnik had influenced the latest developments involving the shipyard, Racan said "it has nothing to do with the harsh position I showed a month ago demanding that Viktor Lenac file for bankruptcy" when the stockholders were not willing to save the company. "That stand on my and the government's part influenced the stockholders to become more responsible." (hina) ha sb

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