Croatia’s Varteks appoints board member

Koprek has been appointed for a five-year period, the company said in a filing to the Zagreb bourse without elaborating.

On Thursday, Varteks announced that its bank account has been blocked due to a request for forced payment to cover employee wages and that management board member Jelena Bosnjak had submitted her resignation.

According to state TV broadcaster HRT, Varteks' employees have been on strike since May 6 due to the company's failure to pay a portion of their salaries for February and the full amount for March.

The company's stock traded 8.33% lower at 0.22 euro ($0.24) and was the biggest daily decliner on the Zagreb bourse intraday on Monday.

($ = 0.926 euro)