Telekom board expanded

Ljubljana, 09 January (STA) - The supervisory board of Telekom Slovenije, the state-owned telecoms incumbent, has appointed auditor Vida Žurga chief financial officer for a four-year term.

Žurga, who will join the Telekom board as its fifth member as of 1 February, is currently the director of Zavod za Revizijo in Računovodstvo, a tax and auditing consultancy she co-founded in 2014.

She has previously worked as tax and financial adviser, the company said on Wednesday.

Žurga is coming to Telekom at a turbulent time for the company, which is facing a tough competitive and regulatory environment that is chipping away at its bottom line.

The company saw its profit plunge 22% to EUR 23.5m in the first nine months of 2017, as revenue contracted by 1% to EUR 538.1m.

The projection for this year is even bleaker, as profit is expected to drop by a quarter on severely declining sales.