April 26 (SeeNews) - Slovenian retailer Mercator, a unit of troubled Croatian concern Agrokor, said on Wednesday two members of its supervisory board have resigned, including the president.
Supervisory board president Ante Todoric and supervisory board member Ivan Crnjac handed in their resignations on Tuesday, Mercator said in a statement filed with the Ljubljana bourse.
The company gave no further details.
On Tuesday, local media reported that Slovenia's parliament has adopted a bill preventing the diversion of funds from companies of systemic importance for the country such as Mercator.
"We need such a law because we have to prevent a depletion of Mercator, which might occur as a result of Agrokor's problems," the Slovenian government said earlier on Twitter.
The law allows the government to appoint a temporary member of the management board of companies of systemic importance for the country if their majority shareholder is insolvent.
The purchase of Mercator is seen as one of the triggers that set Agrokor on a course towards financial trouble, which only became apparent earlier this year when Moody's downgraded the corporate family rating (CFR) on Agrokor to B3 from B2. The company then pulled out of a syndicated loan deal it had struck with several international lenders, which sent the price of its bonds on international markets into a downward spiral.