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BKV CEO Istvan Kocsis leaves post by mutual consent

Istvan Kocsis is leaving his post as CEO of Budapest public transport company BKV by mutual consent, the communications chief of the Budapest mayor's office told MTI on Sunday.

Maria Szucs Somlyo said Mayor Istvan Tarlos and  Kocsis mutually agreed to terminate the employment of the latter as CEO of BKV.

The mayor has assigned Gyula Varszegi, chairman of the board of BKV, the duties of CEO of BKV.

Istvan Kocsis - who was earlier CEO of the state-owned electricity works Magyar Villamos Muvek (MVM) - was questioned by police on August 16 over suspicion of misappropriation causing major financial losses.  Tarlos then told the daily Magyar Nemzet that he has no reason to dismiss  Kocsis until it is proven that he can be blamed for anything and has been involved in illicit activity affecting BKV.

Magyar Radio reported that  Kocsis has come under suspicion with regard to two transactions made during his time as MVM CEO. The National Investigation Office suspects that  Kocsis signed both contracts by bypassing the board of MVM, and the two transactions were said to cause losses of at least HUF 2 billion to the company.