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Market wants Hungary MOL chief Hernádi to stay

A majority of analysts and portfolio managers polled by Portfolio.hu believe Zsolt Hernádi's departure is not a far-fetched scenario in light of the past few weeks’ events. Most of the respondents covering MOL believe that with or without Hernádi, MOL is likely to retain control rights in Croatian energy company INA.

While a report in major Hungarian daily Népszabadság about Croatia requesting Hernádi's prior extradition was denied by every affected party, MOL still dipped some 4% on the Budapest Stock Exchange (BSE) on Tuesday. Investors are watching the developments, i.e. the attacks by Croatia on the company and its chief, with ever bigger concerns; and worries about MOL potentially losing control over INA are also mounting.

Portfolio.hu conducted a survey among analysts and portfolio managers that follow MOL closely, asking them about the potential outcome of Croatia’s offensive against the company.

There is a great split among them regarding the question whether alleged bribery charges against Hernádi will lead to the Chairman-CEO’s departure or not: the most likely scenario is that Hernádi will stay.