The two executive directors of the
Bulgarian National Electric Company NEK, Lyubomir Velkov and Mardik
Papazyan, are going to be fired by the end of the week.
This was announced Monday by the Bulgarian Energy Holding, of which
NEK is a subsidiary. The decision for their dismissal will be made at
the upcoming Board of Directors meeting of BEH.
The reasons for the firing of Velkov and Papazyan are that the two
managers have failed to undertake the necessary actions to cut the
expenditures and respectively - to reduce the losses - of the
state-owned company.
BEH has even accused the two CEOs of inaction, and is going to hold
them accountable for their failure to act. According to the Chair of
the Board of Directors of BEH, they had to reduce the electricity
prices as a measure to prevent losses.