Thursday, 7th February 2019, Velenje

After consolidation of ownership, Gorenje to be transformed from a joint stock company (d. d.) to a limited liability company (d. o. o.)

After consolidation of ownership, Gorenje to be transformed from a joint stock company (d. d.) to a limited liability company (d. o. o.)

Pursuant to the resolution adopted by the Shareholders Assembly (held on 07 February 2019) Gorenje d.d. will be transformed from a joint stock company into a limited liability company. The transformation marks the completion of the takeover process, with the company Hisense as the only remaining shareholder and introduces a simpler governance system without the Supervisory and Management Board.

As of the date of entry of the transformation in the Court Register, which is expected to occur by the end of February, the members of the Supervisory and Management Board will cease their term of office. In place of a Supervisory Board and Management Board, Gorenje will be managed by a seven-member Committee of Directors which is chaired by Franjo Bobinac and includes two Chief Managing Directors, Lan Lin and Chao Liu, and four Directors: Yeguo Tang, Shaoqian Jia, Žiga Debeljak, and Drago Bahun as labour director/employees' representative.

Five additional members of the previous Management Board, i.e.  Stanka Pejanović, Tomaž Korošec, Hanson Han, Lu Hou, and Saša Marković will continue to participate in the management of the company; they will be named holders of procuration or executive vice presidents of the company. The management will be responsible for the company’s current operations, i.e. production and business management, implementation of decisions adopted by the shareholder and the Committee of Directors, organising the implementation of business and investment plans, defining the company’s internal organisation, etc.

The simplified governance will allow more efficient management and decision-making within the Company, thus enabling it to respond promptly to the challenges and changes in the harsh business environment and to better reap the synergies with Hisense, 

In addition to the function of the Chairman of the Committee of Directors, Franjo Bobinac will also continue to perform his new function of vice president of global marketing at Hisense International to which he was already appointed last year. »By transforming Gorenje into a limited liability company, we are completing a successful process of searching for a strategic owner. Gorenje's ownership has been consolidated, and with Hisense as the new owner, we are laying solid foundations for the development of the Gorenje Group, its brands, and thereby the future of over 11,000 employees.”