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Bar Port Operator’s Board Criticises Executive Management

Bar port operator’s board criticises executive management

Bar Port Operator’s Board Criticises Executive Management

Bar, Montenegro (PortSEurope) June 15, 2018 – The board of directors of Luka Bar a.d., the operator of Montenegro’s Bar port, chaired by Andjelko Lojpur, has criticised in the annual management report the work of the company’s managing director Zarija Franovic.

In the report, the board of directors accused Franovic of failing to implement all decisions of the board, violating the statutes of the port operator.

The performance of Luka Bar would be at a higher level if the executive management had carried out at least some of the decisions adopted by the board, which were essential for the good functioning of the company.

Luka Bar recorded a loss of €78,000 ($90,300) in the first quarter of 2018, versus a profit of €539,300 ($624,700) in the like period of last year.

Source: Vijesti

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