Former Transport Minister Joins CEZ Board

Former Minister of Transport Dan Ťok is joining the Supervisory Board of the ČEZ energy company. The Ťok nomination proposal is confirmed by information on nominations for management and supervisory companies with state ownership on the website of the Ministry of Finance (MF). Through the Ministry of Finance, the state owns 70 percent of ČEZ shares. Voting at the company’s general meeting thus generally ends according to the wishes of the ministry.

This year’s CEZ General Meeting will take place on Monday, June 28. Only then will it be clear whether the change in the company’s supervisory board will take place. Among other things, the Supervisory Board elects and removes members of the company’s Board of Directors; it has 12 members. The state has eight members, the rest are employee representatives. It is not yet clear who Ťok should replace.

The 62-year-old Ťok was Minister of Transport for the ANO party from 4 December 2014 in the government of Bohuslav Sobotka and subsequently in the two governments of Andrej Babiš. He ended up as a member of the government on April 30, 2019, and subsequently resigned as a deputy in 2017. Before that, he worked, for example, as CEO of Skanska’s construction company or CEO of Alstom’s Czech and Slovak branches.

At the end of March this year, Ťok became a member of the Board of Directors of the State Railway Administration. “In the past, there was also talk of his ambitions in the field of diplomacy, but he did not win a post at the embassy. However, Ťok told the server that he was not running for Řehoř’s position, he did not apply for the tender.