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Jet Investment's TEDOM appoints CEO

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TEDOM a.s.,Třebíč

Date: 7 August 2020

Source: privateequitywire

 

Czech investment company Jet Investment's portfolio company TEDOM, has appointed Vladimír Hlavinka, an experienced manager in the field of the power industry, as CEO. 

Hlavinka replaces Josef Jeleček, the founder of the Group which produces gas cogeneration units and operates thermal energy sources with an annual turnover of nearly CZK4 billion.

"Now that TEDOM has a single shareholder, the time has come to simplify the management of the Group and to take further steps that we have not been able to take in the past due to the dispute with the other shareholder," says Jeleček. "TEDOM needs a view from the outside, Vladimir Hlavinka, whom I have known for decades, is, in my judgment, the one who has the prerequisites to take over, unite and develop the Group. I am not retiring, however. In addition to my new activities, I will continue to cooperate with the company's management on an advisory basis."

Hlavinka has given several motivations for joining TEDOM: "First, it is a top company, a pioneer of cogeneration, built from scratch and run by the founders for thirty years. Then there is the product with considerable potential and an enlightened shareholder, with whom we agree on how the company should develop further. I appreciate that the representatives of Jet Investment actively participate in the Group's management and understand the energy business.

"TEDOM has clear potential to become a truly multinational player. I would also like to see it grow from a leader in cogeneration to a leader in distributed energy that prioritises energy production at the point of consumption with maximum use of local resources. Cogeneration will undoubtedly play an important role in the transition from coal-fired electricity to renewable sources. On top of that, cogeneration is easily regulated. Thus it has the potential to be a stabilising element in the new distributed energy systems enabling the full use of green energy. In the future, cogeneration will not only guarantee the supply of heat and electricity but also better management of the entire system."

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