Vanja Burul, President of the Management Board

Born in 1976, Vanja Burul graduated in 2002 from the Faculty of Electrical Engineering and Computing at the University of Zagreb, specializing in Energy and Power Systems. In 2008, he completed the DSM – Diploma Study in Management international program at the University of Zagreb. His further education includes attending the Strategic Management (2016) and Advanced Management (2014) programs at IEDC Bled, and completing the Executive MBA program at Cotrugli Business School.

His career began in 2002 as a consultant at the EKONERG Institute for Energy and Environmental Protection. Joining us in 2004, he initially worked as a designer of medium power transformers. Over the years, various key positions have been held, including Head of Special Distribution Transformers and Head of Quality Control for Medium Power Transformers. In 2011, he was appointed Deputy Member of the Management Board and Assistant Director of the Medium Power Transformer Profit Centre. By 2016, the role expanded to include Member of the Management Board and Director of the Medium Power Transformer Profit Centre. In April 2021, he was appointed President of the Management Board. Additionally, he serves as a member of the Supervisory Board of our subsidiary PET in Poland.

Martina Mikulić, Member of the Management Board

Born in 1975, Martina Mikulić graduated from the Faculty of Electrical Engineering and Computing at the University of Zagreb in 1998, specializing in Electrical Machine, Drives, and Automation. She was awarded the Josip Lončar Bronze Plaque for academic excellence during her studies. In 2002, she completed her postgraduate studies at the same faculty with a master’s thesis titled "Selection of Earthing Transformer Parameters.”  She also completed the FBA Managerial Education Programme – Fundamentals of Business Management at the Faculty of Economics, University of Zagreb.

Her professional journey began in 1998 at the Končar Institute of Electrical Engineering as a scholarship holder, where she worked on a Ministry of Science and Technology project. Initially a research assistant, she advanced to junior assistant by 2001. Throughout her work, she contributed several articles to the field of transformers as both an author and co-author.

Joining our team in 2003 as a medium power transformer designer, she quickly progressed to Head of the Distribution Transformer Technical Department in 2004. By 2011, she was appointed Deputy Member of the Management Board and Technical Director of the Distribution Transformer Profit Centre. In 2016, she was appointed a Member of the Management Board and Director of the Distribution Transformer Profit Centre.

Dominik Trstoglavec, Member of the Management Board

Born in 1981, Dominik Trstoglavec graduated in 2004 from the Faculty of Electrical Engineering and Computing at the University of Zagreb, specializing in Energetics. His thesis, "Techno-Economic Analysis of a Potential Location for a Wind Farm," was prepared at the Institute of Energy Technology (IFE) in Kjeller, Norway. He also gained certification as an internal auditor for quality management (ISO 9001) and environmental standards (ISO 14001). From 2013 to 2015, he enhanced his managerial skills through the FBA Fundamentals of Business Administration program as part of Končar Group’s management education.

Joining our team in 2005, he began as a distribution transformer designer and quickly advanced to head of the project department by 2011. Since 2016, he has served as Technical Director and a member of the working group for the Distribution Transformers Profit Centre. In April 2021, he was appointed to the Management Board, overseeing business development, product development, production development, investments, and maintenance.

Kristina Dimitrov, Member of the Management Board

Born in 1974 in Zagreb, Kristina Dimitrov graduated in 1998 from the Faculty of Economics in Zagreb, specializing in Accounting and Auditing. She is a certified auditor, a member of the Croatian Chamber of Auditors, and a Fellow member of the Association of Chartered Certified Accountants (ACCA) in the UK.

Kristina launched her career at Ernst & Young, where she developed expertise in auditing, accounting, and taxation. She led audit teams for both international and Croatian companies across diverse sectors, including construction, engineering, energy, transportation, shipbuilding, manufacturing, real estate, leasing, hospitality, the beverage industry, retail, IT, and non-profit organizations. Her career also includes experience with smaller audit firms within international networks like Nexia International and Grant Thornton. In 2014, she joined the prestigious consulting firm PricewaterhouseCoopers d.o.o., where she served as an Audit Director.

In May 2024, Kristina was appointed to the Management Board, where she is responsible for finance and procurement.

Mario Ljubić, Member of the Management Board

Born in 1978, Mario Ljubić graduated in 2001 from the Faculty of Economics at the University of Zagreb, specializing in Trade. In 2012, he earned a postgraduate degree in International Economics from the same institution, defending a master’s thesis titled "The Importance of the European Monetary Union in International Trade." He also gained certification as an internal auditor for quality management (ISO 9001) and environmental standards (ISO 14001). In 2013, he graduated from the Sales Management Academy at Mercury International.

Since joining our team in 2007 as a procurement officer, Mario has performed several key roles. By 2012, he was leading the Medium Power Transformers Sales Department. In 2016, he advanced to Director of Sales and Marketing and joined the working group for the Medium Power Transformers Profit Centre.

In April 2024, he was appointed as a Member of the Management Board and Director of the Medium Power Transformers Profit Centre.

Supervisory Board

KONČAR D&ST Joint Stock Company has a Supervisory Board with 5 members, of which 4 are elected by the shareholders at the General Assembly and one member is an employee representative on the Supervisory Board. The Company Supervisory Board performs activities determined by the Companies Act and the Company’s Articles of Association. The work of the Supervisory Board is regulated by the Rules of Procedure of the Supervisory Board and its committees.

The following are members of the Supervisory Board: Gordan Kolak, Chairman of the Supervisory Board, Miki Huljić, member of the Supervisory Board, Josip Lasić, member of the Supervisory Board, Ana-Marija Markoč, member of the Supervisory Board and Ivan Paić, member of the Supervisory Board.

• Gordan Kolak, Chairman of the Supervisory Board since 30/1/2024
• Miki Huljić, member of the Supervisory Board since 30/1/2024
• Josip Lasić, member of the Supervisory Board since 30/1/2024
• Ana-Marija Markoč, member of the Supervisory Board since 15/11/2023
• Ivan Paić, member of the Supervisory Board since 30/1/2024

Ervin Filipčić is the Company Secretary and also the Secretary of the Supervisory Board.

In performing supervision over the Company, the Supervisory Board also acts through committees, as follows: Audit Committee, Rewards Committee and Appointment Committee.

Supervisory Board Committees

Audit Committee

The Audit Committee oversees the process of selection and appointment of the external auditor in accordance with legal requirements and makes recommendations to the Supervisory Board for the selection of the external auditor and the conditions for its appointment. The Committee assesses at least once a year the effectiveness of risk management and the internal control system as a whole and, if necessary, makes recommendations to the Supervisory Board and the Management Board.

Duties and authority of the committee:

• Monitors the financial reporting process
• Monitors the effectiveness of the internal control system, internal audit and risk management system
• Oversees the audit of annual financial and consolidated statements
• Supervises the correctness and integrity of the Company’s financial statements and accounting policies and other official statements related to the Company’s financial results
• Monitors the independence of independent auditors or the audit firm performing the audit, and in particular contracts for ancillary services
• Makes recommendations to the Supervisory Board and the General Assembly on the selection of an independent auditor or audit firm
• Oversees the implementation of measures determined as a result of external and internal audits and own control
• Once a year evaluates the effectiveness of procedures for approving and publishing transactions between members of the Management Board or the Supervisory Board and the Company (or persons associated with any party)
• Once a year evaluates the effectiveness and application of the procedure for reporting irregularities

Members:

• Josip Lasić; Chairman
• Gordan Kolak; member
• Miki Huljić; member

Rewards Committee

Committee obligations:

• Recommends to the Supervisory Board the reward policy for members of the Management Board at least every three years
• Recommends to the Supervisory Board every year the rewards that should be received by the members of the Management Board, based on the assessment of the Company results and their personal results, and after consultation with the Chairman of the Management Board
• Recommends to the Supervisory Board the reward policy for members of the Supervisory Board, which will be submitted for approval to the General Assembly
• Oversees the amount and structure of rewards for senior management and workers as a while and give recommendations to the Management Board on its policies
• Oversees the preparation of the mandatory annual report on rewards, stipulated by law

Members:

Committee members as a rule are members of the Supervisory Board. Exceptionally, a person who is not a member of the Supervisory Board may be appointed a member of the Rewards Committee, if he/she guarantees with his/her professional knowledge and skills, previous work and experience that he/she will contribute to the work of the Rewards Committee.

• Ivan Paić; Chairman
• Miki Huljić; member
• Josip Lasić; member

Appointment Committee

Committee responsibilities:

• Overseeing the appointment process to the Supervisory Board and the Management Board to ensure that it is fair and transparent
• Developing role and candidate descriptions for each vacancy in accordance with the profile of the Management Board or the Supervisory Board (if necessary, in consultation with the Chairman of the Management Board or the Supervisory Board) and identifying and recommending appropriate candidates to the Supervisory Board
• Agreeing on the terms of appointment with potential new members of the Management Board or the Supervisory Board, including the expected time required to perform their function
• Preparation of a succession plan for reappointment or replacement of members of the Supervisory Board and the Management Board, in consultation with the Chairman of the Supervisory Board and/or the Management Board
• Overseeing the progress in achieving the target percentage of female members of the Management Board and the Supervisory Board
• Overseeing the policy of the Management Board in the selection and appointment of senior management – directors

Members:

Committee members as a rule are members of the Supervisory Board.

• Gordan Kolak; Chairman
• Josip Lasić; member
• Ivan Paić; member