For the most part being a supervisory board member on a Czech state company looks like a highly paid form of pre-retirement pension for politicians who’ve past the sell-by date. The demands are light and the rewards relatively high. But the latest controversy over supervisory boards fails to address the main problems.
Mining company New World Resources (NRW) is preparing for the possible sale of daughter companies, including the Ostrava-based coal producer OKD, it was reported on Wednesday. OKD has around 12,000 employees and runs four mines in the Czech Republic, including the Paskov mine in North Moravia, which it plans to close in three years’ time.
The abolition of anonymous shares in companies, and as a result the ending of firms with no clear ownership, came into force at the end of June with thousands of such firms still in existence. The phase out, part of the drive to make corporate life more transparent and aid the fight against corruption and criminality, looks like taking some time to take full effect.
The Czech Republic is preparing for a fundamental shift in its energy policy, Hospodářské noviny reported on Tuesday. Quoting the latest version of the official long-term state energy plan, the business daily says the country is set to make a switch from being a state that exports power to one that imports it.
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