Bartonicek to take over management of PPF after death of founder Kellner

PRAGUE (Reuters) - Czech investment group PPF has appointed Ladislav Bartonicek to run the company’s business after the death of its founder and main shareholder, Petr Kellner, in a helicopter crash, PPF said on Monday.

Bartonicek, a long-term business partner of Kellner, is one of two other shareholders of PPF and holds a 0.535% stake in the group, which reported assets of 44 billion euros ($51.77 billion) in mid-2020.

“Teams of professional managers run individual companies of PPF Group and will continue to do so under the leadership of Ladislav Bartonicek,” PPF said in a statement.

“The company states that its founder’s passing away has no impact on the PPF Group’s day-to-day functioning. PPF Group will continue moving forward its investment plans and visions formulated by Petr Kellner with his team of colleagues.”

Kellner, the country’s richest businessman, was killed in a helicopter crash in Alaska along with other four people during a heli-ski tour on Saturday.

($1 = 0.8500 euros)

Reporting by Jan Lopatka; Editing by Dan Grebler