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Mihail Andonov is the new executive director of Bulgaria's state-owned power utility NEK, Minister of Economy, Energy and Tourism Traicho Traikov announced Tuesday.
Andonov replaces Krasimir Parvanov who was dismissed after who had overstepping his negotiating mandate on Belene NPP by signing a clause committing the sides to initial a final agreement on the plant's construction by June 1, 2011.
Andonov was chief accountant of the state-owned electricity company in the period September 2009- April 2011 and was selected among a total of 13 candidates and a short-list of four. He has also been a member of the Board of Directors of the power utility.
"I have been working at NEK for 14 years and if I had not taken part in the competition I would have betrayed the company", the newly appointed CEO commented.
Andonov vowed to order a check into the tender procedures for electricity sales organized by Kozloduy NPP and said that NEK is in a good financial condition.
NEK ended 2010 with a profit of BGN 102 M and is expected to register a BGN 60 M profit for the first six months of 2011.
"A long-term debt settlement program will be prepared and NEK will become top performer on the Balkans within a year and a half", Andonov pledged.
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