Bulgaria National Electricity Company Appoints New Head

Krasimir Parvanov has been appointed as the new executive director of Bulgaria's National Electricity Company (NEK), replacing incumbent Georgi Mihov. Photo by Dnevnik

Bulgaria’s National Electricity Company (NEK) has appointed a new executive director - Krasimir Parvanov. He replaces current executive director Georgi Mihov in the top position.

Parvanov moves from his present position as head of the Directorate for Access and Network Development at CEZ Distribution, NEK has announced on Monday.

CEZ is the Czech power utility that supplies power in western Bulgaria.

The management reshuffle was confirmed by the Deputy Minister of Economy, Energy and Tourism, Maya Hristova, who is also chair of the Board of Directors of the Bulgarian Energy Holding. NEK is part of the structure of the BEH holding.

Hristova declined to give details of the change, and promised that the ministry will issue an official announcement later on Monday.

Mikov, who was appointed to the position at the end of August 2009, has repeatedly stated his willingness to resign because he claimed he did not have the necessary freedom to make changes in NEC and to form its own, independent structure.

One of his ideas was to create a strong market-based company, a proposal that did not gain the necessary management support of Bulgaria Energy Holding.

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