The CEO points out that the Group is facing problems which include the inability to finance further production of wagons and the lack of equity in the company.

Đuro Đaković published an announcement on the Zagreb Stock Exchange stating that, Marko Bogdanović stepped down from the CEO position.   

In his explanation, the CEO pointed out that Đuro Đaković is currently facing challenges due to two key problem:

• The inability to finance further production of wagons (for export)
• The lack of equity in the company

The CEO states that the almost a complete restructuring has been carried out and that the Group operates only in sustainable programs, while the unsustainable ones have been closed. He further states that he considers that despite the efforts of the Management Board and the progress made in the Group’s results, further improvement is not possible without the results of a complete financial restructuring with an emphasis on strengthening the Group’s capital.

Besides that, Đuro Đaković published another announcement stating that the accounts of the Group, as well as the accounts of its related companies were blocked yesterday.