PPF Group completes the acquisition of Škoda Transportation and appoints a new CEO

“Škoda is a strong, well-established brand and is well known globally. We are confident that, by combining our people with Škoda’s technical expertise, we will add significant value to the business. By implementing the right strategy, managing the business effectively and leveraging our international experience, Škoda has a brilliant future,” commented Ladislav Chvátal, PPF Group’s Chief Officer for Strategic Projects, who has also been appointed as the new Chairman of the Company’s Supervisory Board.

Alongside the completion of the transaction, the management team has been significantly strengthened by the appointment of Petr Brzezina as Chairman and CEO. “Petr Brzezina has extensive experience in managing engineering companies. I firmly believe that, together, we will be successful in propelling Škoda to major achievements,” added Mr Chvátal.

The following members will continue to serve on the Company’s Board of Directors: Mr Tomáš Ignačák, Mr Zdeněk Sváta and Mr Jaromír Šilhánek, director of Škoda Electric company. Lastly, Mr Jan Menclík, the Chief Financial Officer will be appointed the fifth member of Board of Directors.

Profile of Mr Petr Brzezina:

Mr Petr Brzezina graduated from the Brno University of Technology’s Faculty of Mechanical Engineering and attained his MBA from Nottingham Trent University. He served in several managerial positions at ABB, an international technology company, including in the Czech Republic, in Sweden and in Belgium. He later spent 14 years in the Alstom international group in Germany and the Czech Republic where, serving as CEO, he was responsible for Western and later Eastern Europe. Between 2008 and 2015, he was Alstom’s President for the Czech Republic and Slovakia focusing on Transport and Energy. He also spent some time at General Electric. Since 2016, he has been Chairman and CEO of OHL ŽS, a construction company. Under his management, OHL ŽS has undergone a major reorganisation and carried out a number of infrastructure projects in buildings and transport both in the Czech Republic and internationally.