Croatian oil company INA Management Board chairman Laszlo Geszti is retiring for health reasons and Supervisory Board member Zoltan Aldott has been nominated as INA's new chief executive, INA said on its website.
Aldott is expected to retain his position as executive vice president for exploration and production at Hungary's MOL group.
Geszti will continue working at the MOL group as senior advisor to Zsolt Hernadi, the president and chief executive officer of MOL, INA's majority owner.
INA said the changes would take effect after an extraordinary meeting of the shareholders' assembly.
The media speculate the real reason for Geszti's resignation is the poor image of INA and MOL in Croatia and the poor situation in the Croatian company.
