Jan Vymazal will lead the GGE energy group
4. April 2018
A change in the management of the Slovak energy group GGE. From 2 April 2018 the group will be led by Jan Vymazal, MBA, as its CEO.
“There are many reinvestment opportunities in the energy sector today that could again move GGE a bit further. The priority will be to find the right investments for our portfolio and, of course, to consolidate the existing ones,” says Jan Vymazal. The GGE Group currently operates production plants which generated 665.8 GWh of electricity in Slovakia and Poland last year. Its subsidiary Elgas, in turn, is the largest supplier of gas to heat producers in Slovakia.
“We are undoubtedly happy that the key post of CEO of GGE, a.s. has been filled by a man with an excellent reputation and outstanding results like Jan” says Steve Johnson, the director of the British investment fund Infracapital, which is the 100% shareholder in GGE.
Jan Vymazal has previously held several executive managerial posts in companies operating in the industrial and manufacturing sectors in Europe, Asia and the USA. Before signing the contract with GGE, he worked for Milacron, a USA-based company which is a global leader in the design, manufacture and distribution of plastic technologies. There he served as Vice-President for Global Operations. Before working for Milacron, Jan held the post of general manager at Edwards in the Czech Republic and later in South Korea.
“Of course, I have respect for my new engagement, but I believe that my long-term experience in managing companies that operate on the global market will help GGE to seamlessly penetrate other European markets,” adds Jan Vymazal.
Founded in 2007, GGE is one of the fast growing energy companies in Central and Eastern Europe, with annual revenues of nearly EUR 300 million. Through its subsidiaries, GGE is a major energy commodity trader in Central and Eastern Europe.
The companies belonging to the GGE Group cover the entire energy cycle – from the supply of fuel for energy production through the production and distribution of energy to the operation and maintenance of energy production facilities. In Slovakia, for example, it operates a steam-gas cycle in Považská Bystrica, and manages the production and supply of heat in Dunajska Streda, Sereď and Devínska Nová Ves.
The GGE Group is also active in foreign markets, such as Poland, where for example since 2017 it has been the owner of DUON, which engages in the business of network supplies of natural gas as well as supplies of liquefied natural gas (LNG). It has its own infrastructure, consisting of more than 480 kilometres of pipelines and 20 LNG liquefaction stations.
Since 2015, the British investment fund Infracapital has been a strategic investor in GGE.
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