GEN-I Management Board orders audit of Romanian Project and ensures business continuity at subsidiary GEN-I Sonce
The Management Board of GEN-I convened an extraordinary board meeting on 27 September at 7:00 p.m. to review the publicly available information and discuss the circumstances relating to the proceedings reportedly being conducted in Romania involving the director of its subsidiary, GEN-I Sonce, d.o.o.. The Management Board adopted specific measures aimed at clarifying the circumstances and protecting the interests of the company, its employees, customers and business partners.
On Saturday, the company became aware through media reports of the detention and proceedings in Romania involving Gregor Hudohmet, Director of the subsidiary GEN-I Sonce, d.o.o.. At this stage, neither GEN-I nor GEN-I Sonce has received any official or detailed information regarding the proceedings. The Management Board has therefore ordered an audit of the battery energy storage system project in Gheorgheni, Romania, which, according to the information published to date, is the subject of the investigation.
Until all circumstances have been clarified and in order to ensure uninterrupted operations, the Management Board of GEN-I, d.o.o. has appointed Jure Soklič, M.A., MBA, President of the Management Board of the parent company GEN-I, d.o.o., and Sandi Kavalič, Member of the Management Board of the parent company GEN-I, d.o.o., as interim directors of GEN-I Sonce, d.o.o. Until further notice, the company will be managed and represented jointly by the two appointed interim directors.
In addition to ordering the audit and appointing interim directors, the Management Board adopted a resolution to assess the possibility of placing the project on hold until all relevant circumstances have been clarified, with the objective of protecting the interests of the company, its employees and its business partners. The project nevertheless represents an important milestone in energy storage and in the further successful development of the GEN-I Group on international energy markets.
The GEN-I Group is concerned by the allegations and is treating them with the utmost seriousness. Integrity, responsibility and compliance are fundamental principles of our operations, and the GEN-I Group maintains a zero-tolerance approach towards corruption and any other unlawful conduct. The audit will focus on examining all relevant facts and circumstances relating to the transaction in question, while the legal assessment of the case is entirely a matter for the competent authorities. To date, neither GEN-I Sonce, d.o.o. nor GEN-I, d.o.o. has received any official communication from the Romanian authorities regarding this matter.
Until all circumstances have been clarified, we will continue to act on the basis of verified facts, while respecting the rights of all parties involved and providing appropriate support to our employees. We will fully respect the findings and decisions of the competent authorities.
The GEN-I Group’s global presence, the expertise of its employees and its access to energy markets remain strong foundations for its continued development. These developments do not affect the operations of the GEN-I Group. The Group remains focused on stable and successful business performance, continued international growth and, above all, on its core responsibility: providing customers with reliable and competitive energy supply.
Should the audit or official proceedings reveal any irregularities, GEN-I will act decisively, responsibly and in accordance with applicable legislation. We will continue to keep the public informed in a timely manner of any relevant findings and any further measures that may be taken.
