Monbat AD released an invitation to shareholders on June 15 to come to an extraordinary annual general meeting to appoint the interim CEO Dimitar Nikolov Kostadinov to its board of directors.
The meeting, to be held on July 22 in Sofia, Bulgaria, will also formalize his remuneration package.
Kostadinov takes over from Evelina Pavlova Slavcheva who will stand down from the board.
Kostadinov was appointed the second procurator of the company and interim CEO on June 3 following the resignation of former executive director Atanas Bobokov that day.
Bobokov remains as chairman of Monbat.
Bobokov, his brother Plamen Bobokov and Bulgaria’s deputy environment minister Krassimir Zhivkov have been investigated for alleged criminal activities relating to the disposal of technological waste.
The Monbat group made a lengthy declaration on May 29 of the procedures and documentation that surrounded all disposal of waste. “There are no companies, owned and/or controlled, by Monbat which conduct business activities for depositing and utilization of the residue technological waste,” it said.
“Monbat is allowed to deposit residue technological waste only to licensed operators in full compliance with the regulations and in line with the economic justification for the company.”
Monbat, the Bulgarian and eastern European battery and recycling group, has an international presence in more than 70 countries around the world.