Croatian Prime Minister Andrej Plenkovic has proposed former McKinsey consultant Fabris Perusko as the new crisis manager of troubled food and retail group Agrokor, the government announced on February 27.

If the nomination is endorsed by Croatia’s Commercial Court, Perusko will replace Ante Ramljak, who resigned on February 21. The original crisis management of Agrokor was appointed by the Croatian government to manage Agrokor in April 2017 after a debt crisis prompted a run on its bonds, bringing the group close to collapse. 

In November, Agrokor accepted creditor claims worth HRK41.2bn (€5.4bn) but disputed other claims worth a total of HRK16.5bn. 

Peruska is currently a member of the management board of newspaper retail chain Tisak, part of the Agrokor Group. Announcing the nominations of Peruska and his proposed deputy, Plenkovic said that Peruska has a notable experience in the restructuring process. 

Irena Weber, who was nominated as Peruska’s deputy, already has experience at Agrokor, having served as an adviser to Ramljak. She previously worked as an advisor to the government in the shipbuilding restructuring process.

Plenkovic commented that Weber can, together with Peruska, contribute to the management of Agrokor’s operations and the continuation of the restructuring process. 

Weber’s position is a newly created one, and indicates the government is wary of again being left with no one at the helm of the country’s largest employer should the new top manager resign.

Plenkovic said that his cabinet selected Peruska and Weber believing that in the short-term they can adjust and take on the responsibilities related to the extraordinary management of Agrkor.

“These people have gained our trust and support they have is huge. We expect from them, after the court makes its decision, to take over their responsibilities and, actually, as of tomorrow continue with dynamic activities in accomplishing legal aims regarding extraordinary management in Agrokor. I wish them a lot of success and I m thanking them to courage to accept these duties,” Plenkovic said.  

Given the complexity of the task ahead and the criticism repeatedly levelled at Ramljak during his stint in the post, the position of Agrokor’s crisis manager is currently seen as a poisoned chalice in Croatia, and media and citizens have been speculating that no one would be willing to take on the challenge. 

The requirements for the post were quite demanding, starting with having certain expertise and reputation, while at same time being close to the government and reliable, yet also without links that could suggest conflict of interests or any kind of irregularities.

The new crisis managers are due to finish the job by mid-July.