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Last updated on April 18, 2014 at 17:24 EDT

Mol to Split Strategy and Business Development Department

June 16, 2008

Hungarian energy group Mol has announced that its strategy and business development department will be separated into two distinct units. The new strategy development department will report to the group’s CEO, while the corporate business development department will report to the chairman and CEO.

Mol has said that, in line with its strategic partnership with the Czech electricity generation company, CEZ, a gas and power division will also be established.

Mol has said that Lajos Alacs will be responsible for the gas and power division. Mr Alacs has worked as executive vice president for strategy and business development.

Abel Galacz will be responsible for the corporate business development department. Mr Galacz has worked for Mol since 2000, and serves as advisor for the chairman.

The Hungarian company noted that Laszlo Varro will be responsible for the strategy development department. Mr Varro has worked as Mol’s chief economist since 2005.