Bulgaria Energy Holding Fires Maritsa Iztok Mines' Bosses

Ivan Markov and Gocho Hristov, CEO's of the "Maritsa Iztok" mines were fired over embezzlement and abuse of power.

The decision was made by the Council of Directors of the Bulgarian Energy Holding (BEH) over the conclusions of the audit report prepared by BEH experts.

The audit results have revealed serious violations of fiscal discipline, lack of control and planning and misuse of the company's resources. The mines' profits have been significantly reduced over the above violations while money has not been used for the strategic goal of production's increase.

Todor Todorov, until now Finance Director for the "Maritsa Iztok 2" thermal power plant, will temporary take the lead of the mines.

BEH also decided to appoint a finance auditor to prepare a report for the National Electric Company (NEK).

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