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Message: Re: ...it's that time again/falcon4
1
Jan 11, 2009 04:37PM
5
Jan 12, 2009 07:45AM

>Good thing FO has Dr. Szabo and a head start on MOL)

Don't forget Janos Csak as well.



"From 1999 to 2000 Mr Csák was Chairman of the Board of MOL (Hungarian Oil and Gas Company). The new strategy which Mr Csák planned and delivered included the acquisition of a controlling stake in Slovnaft, Slovakia’s national oil company."

He was also the CFO of MOL:

"Mosonyi, with Shell for the past 25 years, is expected to rekindle talks with Royal Dutch/Shell to improve the use of MOLs considerable excess refinery capacity, while his second deputy chief executive, due to be nominated soon, will take over the post of chief financial officer from the chairman, Janos Csak, who initially held both positions."

"Mol started restructuring itself aggressively about four years ago, after it was listed on the Budapest stock exchange. And things accelerated when a new chairman, Janos Csak, was hired a year ago. In the space of a year Mol saved $50 million by pruning everything from logistics to marketing. "

He was appointed to MOL by the government:

"Mr Csak, for example, is a political appointee: he was given the job when the new government wanted to oust the old Socialist management. "

....and later resigned in protest:

"MOL Chairman Janos Csak resigned and MOL shares fell some 10 percent last week after the cabinet decided on capping a July 1 gas price hike at 12 percent to curb inflation pressure, a move seen causing huge losses to MOL due to high global gas prices. "


Jan 23, 2009 07:09AM
1
Jan 23, 2009 07:28AM

Jan 23, 2009 07:31AM
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