17. 12. 2015

Martin Novák confirmed as a Member of the ČEZ Board of Directors

At today’s meeting, the ČEZ Supervisory Board re-elected Martin Novák as member of the board of directors for the next four-year term that runs from May next year. “With the approaching end of the current office term of this key manager, the company in this way expressed that it also counts on him for the future. Thanks to this, continuity shall be maintained in key areas of company management, especially at present when he was in the scope of recent changes delegated to head the entire Operations Team from next year,” explained Chairman of the Supervisory Board prof. Václav Pačes.

Martin Novák is known to the public and is a respected senior manager with a broad sphere of activity, international experience and a holder of many awards. He came to ČEZ in 2006 from CONOCOPHILLIPS, after working not only in the Czech Republic, but also at the head offices in Houston, USA, and London. As financial director, he contributed to the financial stability of the CEZ Group during the recession. As one of few energy companies, ČEZ did not suffer a decline in investment rating and the Group, of all the 10 largest energy utilities in Europe, remains one of the most profitable and with the least debt. Last year, he was at the birth of the savings programme, which brought in +6.4 billion CZK within one year. He was delegated to head the entire Operations Team from next year.

Under his leadership, ČEZ last year also issued bonds that are convertible to the shares of the company MOL, which was declared the most successful transaction of this type in Central and Eastern Europe and won the EMEA Finance magazine’s “Best convertible bond in CEE”award at the anniversary conference in London.

Beyond the framework of his activities in ČEZ, Martin Novák is also active in other roles, both in the financial sector as well as in the field of education. He is, for instance, a member of the Financial Directors’ Club, a member of the supervisory board of the Prague Stock Exchange and a member of the Advisory Board of the University of Pittsburgh.