Pavel Cyrani named CEO of new ČEZ Energy unit

Energy group ČEZ has appointed Pavel Cyrani as chief executive of its newly established subsidiary, ČEZ Energy. The company's board will be chaired by ČEZ CEO Daniel Beneš. The new subsidiary will bring together the group's energy sales and distribution businesses, trading operations and energy services. Analysts view the move as an important step toward the government's planned full takeover of ČEZ. The state currently owns about 70 percent of the company, while Prime Minister Andrej Babiš (ANO) has said the government aims to gain full control by the end of its term in 2029.