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MOLʼs Hernádi set to head Corvinus University foundation

Minister for Innovation and Technology László Palkovics said Wednesday he has asked MOL Chairman-CEO Zsolt Hernádi to act as chairman of the board of trustees of the future foundation set to take over the assets and operation of Corvinus University of Budapest, state news wire MTI reported.

The government announced plans in February to place the universityʼs assets into the foundation, as well as 10% state-owned stakes in oil and gas company MOL and drugmaker Richter. Palkovics announced he will submit the founding document of the Maecenas Universitatis Corvini Foundation to the court of registry.

Members of the board of trustees will be the businessman and professor János Csák, a former MOL chairman; Corvinus rector András Lánczi; lawyer, professor and former Fidesz foreign minister János Martonyi; and Dániel Palotai, executive director of the National Bank of Hungary.

The supervisory board will include jurist Béla Bártfai, CEO of the Hungarian Hydrocarbon Stockpiling Association (MSZKSZ); Attila Chikán, professor emeritus, former Corvinus rector, and a former economy minister under the first Orbán government; and Levente Jánoskuti, head of office and partner at McKinsey & Company.

Palkovics said that if the transformation of Corvinus University is a success it could act as a model for other universities. Lawmakers voted in April to hand over the operation and assets of the university to the foundation from July 1.

In January, it was reported that the Budapest University of Technology and Economics (BME) and MOL concluded a strategic agreement on cooperation, opening the way to innovative research and a constant supply of professionals.