Georgi Mikov Is New Executive Director of Bulgaria's NEK

Mikov takes his position after The Bulgarian Energy Holding (BEH) elected Friday a new Board of Directors of its subsidiary NEK. Photo by utilities.bg

Georgi Mikov has been unveiled as the new Executive Director of the National Electric Company NEK.

Georgi Mikov was born in 1963. He has a degree in electrical engineering, and a MA in business administration from the American University in Bulgaria. He has been working at NEK since 1991. Since 2005, he is a member of the governing board of the Czech-owned electricity provider, CEZ Bulgaria Jsc.

Mikov takes his position after the Bulgarian Energy Holding (BEH) elected Friday a new Board of Directors of its subsidiary NEK.

During Friday's meeting of the Board of Directors of BEH, the Board of NEK was reduced from five down to three members.

The three new directors of NEK are Mikov, Evgeni Angelov and Mihail Andonov.

Earlier Tuesday Finance Minister Simeon Djankov announced that a 15% stake in NEK and dominant gas supplier Bulgargaz will be listed on the Bulgarian stock exchange.

Last Monday, BEH announced that the two CEOs of the National Electric Company, Lyubomir Velkov, and Mardik Papazyan had been fired over failure to act in order to cut the company's losses from the economic crisis. The losses are expected to reach BGN 76 M by the end of the year.

Bulgaria's Prime Minister, Boyko Borisov, announced Friday morning that his government was going to shut down BEH which was formed as a mega energy structure by the Socialist government in 2008, uniting all major state-owned energy companies.

 

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