The mentioned resignation shall take effect on 12 December 2019.
Đuro Đaković published an announcement announcing that the Bartol Jerković (CEO) and Darko Grbac (Board member) stepped down from their positions at Đuro Đaković Specijalna vozila. The mentioned resignation shall take effect on 12 December 2019.
For such a decision, the management board gave the following comments:
Once the problem was identified regarding the absence of continuated financing of wagon production, the company faced a difficult situation in realizing active contracts. The management tried to find new solutions immediately in order to secure a credit for sustainable financing production. Credit was secured which ensures full employment over the next 18 months. As the board was faced with the absence of a general financing solution for active and contracted production, they developed several models in September for the inter-financing of the completion of over 100 wagons in high production stages. The mentioned credit would be repaid by the end of 2019 and would serve as a pathway towards a stable credit framework.
However, the board states that after several months of intense activities, no suitable solution was found. As a result, for the first time in 15 years, the company was unable to pay salaries and had their accounts frozen. At the same time, the Đuro Đaković Specijalna vozila is becoming increasingly exposed to the workers departing from the company. Besides that, the company states that they are exposed to the constant risk of termination of contracts by their prime EU buyers.
As the board deems that the situation in the company in critical and can not be resolved by the management board alone, they decided to resign.