Changes at the top in Co-op Hungary

The shareholders' meeting of Co-op Hungary has decided to separate the position of president from that of CEO. Lajos Csepeli has been appointed new president of the board for a term of five years, while László Murányi has been apointed as new CEO and Péter Szilágyi as the chairman of the supervisory board for the same term. Pál Bartus will continue to head ÁFEOSZ and perform his social functions. Co-op Hungary achieved record pre-tax profits of HUF 5,5 billion last year, while revenues expanded by 9,2 per cent.