Business News

New Peko Boss Promises More Jobs

Trzic, 17 February (STA) - The new boss of Slovenia's largest footwear company, Peko, announced plans for expansion of its own production as he spoke to the press on Thursday for the first time since taking over 10 days ago.

Janez Sajovic said his restructuring plan to elevate the Trzic-based company out of the red included 37 measures. Unlike previous plans, he does not intend to downsize production but rather ramp it up.

Indeed, Sajovic said he was inclined to an extensive increase in own production at Peko, which would open new jobs and help the company return to profit after two loss-making years.

He presented the plans to the supervisory board, which also debated results for last year at today's session.

Peko chief supervisors Robert Licen said that while exact data would be known only in mid-March, Peko was likely to finish the year with a bigger loss than in 2010, when it stood at EUR 4m.

However, Licen said there was no reason for panic as the company's debts were not high and it could finance restructuring.

Sajovic was appointed to replace Marta Gorjup Brejc, who was at the helm of the company in ten years, to inject a fresh spark.

While Gorjup Brejc turned the company around after a rapid decline in the 1990s due to the loss of the Yugoslav market, supervisors assessed that she ran out of ideas, sending the company into the red.

The core company Peko has a 400-strong work force, while 800 are employed by the group.

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