Electricite de France SA's Démász Nyrt, Hungary's biggest power distributor, said chief executive officer Yves Autret will resign from the company as of April 13, newswire Bloomberg reported.
Autret, 59, also asked Démász's largest shareholder not to extend his board membership at the company's AGM on Friday, Démász said in a statement. The southern Hungary-based power distributor will name a new CEO at its next board meeting April 13, the company said. No reason was given for Autret's resignation. Autret worked as deputy CEO with Démász between 2003 and 2005 and was named CEO January 13, 2005, according to the company's website.
Separately, Démász shareholders approved a Ft 1,280 per share dividend for last year, unchanged from a year earlier. The company will pay a total Ft 4.74 billion in dividend on after-tax profit of Ft 5.38 billion in 2005, Démász said after the general meeting.