Monbat, the Bulgarian lead-acid batteries manufacturer and recycler, is searching for an interim chief executive officer after Atanas Bobokov resigned from the position last week.
The company said that it has appointed Dimitar Kostadinov as a second procurator in addition to its existing procurator Petar Hristov. In this position, Kostadinov will also take over the duties of the chief executive officer to ensure that the company continues operating as usual while the Board looks for an interim chief executive.
Bobokov’s resignation comes after the Bulgarian government initiated an investigation into alleged mismanagement of lead and other hazardous waste by Bobokov, according to local media reports. Bobokov’s brother, Plamen Bobokov, who is also a director at Monbat, along with the country’s deputy environment minister, Krassimir Zhivkov, are also being investigated for these charges.
In a statement released by Monbat, Bobokov said he resigned from the company to “preserve its stability” and “investors’ trust” in the company.
The batteries maker noted in an announcement that it has launched an independent audit of the company’s operations and how its service providers dispose their waste, with the right to terminate its contracts with any third-party providers that don’t follow environmental regulations on lead waste disposal. The company said it does not own or control any companies that deal in waste disposals from recycling systems.
Monbat produces and recycles lead acid batteries and lithium-ion batteries. The company employs 1,100 people across its production facilities in Bulgaria, Serbia, Romania, Italy, and Germany.