A well-defined, clear corporate structure is the foundation of effective strategic and operational management of the company. The key bodies of Valamar Riviera d.d. are the General Assembly, the Supervisory Board with its committees and the Management Board led by the President of the Management Board of Valamar Riviera. The specific powers and responsibilities of these bodies are regulated by the relevant Croatian legislation, the Company’s Articles of Association and other internal acts.

The Supervisory Board consists of nine members, of whom three are independent and one is an employee representative. 

The Supervisory Board meets at least four times per year. The Supervisory Board is actively engaged in key management decisions through corresponding delegate committees which meet more often to manage key strategic initiatives and support the Supervisory board decision-making process.

• Presidium of the Supervisory board
• Audit Committee (AC)
• Investment Committee  (IC)

The current members were elected at the General Assembly held od June 12, 2025, and one member, a representative of the workers, was appointed by the Workers' Council on May 12, 2025.

The Management Board consists of five members:

• President of the Management Board Željko Kukurin
• Member of the Management Board Marko Čižmek
• Member of the Management Board Ivana Budin Arhanić
• Member of the Management Board Davor Brenko
• Member of the Management Board David Poropat

The President of the Management Board Željko Kukurin, within the scope of managing the Company’s business, shall be responsible for coordinating all activities with the aim of ensuring the most successful performance of the Company, and shall be responsible for coordinating corporate activities of the Group (with the Company’s affiliates). The President shall convene and preside over meetings of the Management Board and coordinate management activities in individual areas between other members of the Management Board. He shall independently manage business in the following areas: Corporate Governance, Company Strategy, Annual Plans and Sustainable Growth Management, Strategic Investors and Partners, Product and Portfolio Development, Asset regularisation and preparation for future investment, Compliance, Legal and Audit, Government and Regulatory Affairs, Purchasing, Leases and Security, Human Resources, and Controlling.

The member of the Management Board Marko Čižmek shall individually manage the business in the following areas: Investor Relations, Risk Management, Insurance, IT and Information Security. He shall also perform the function of the Company's Chief Financial Officer (CFO) and shall be responsible for Finance, Accounting, Treasury and Financial and Regulatory Business Reporting.

The member of the Management Board Ivana Budin Arhanić shall individually manage the business in the following areas: Business Development, including portfolio expansion via acquisition, mergers, management services, leases, franchise and other partnerships, internationalization of business outside of Croatia and development of strategic partnerships in business. She shall also be responsible for Corporate Communication, Service Quality and Guest Satisfaction Management and Reporting, ESG Strategy and Communication and CSR Programs and Initiatives.

The member of the Management Board David Poropat shall individually manage the business in the following areas: Operation Management of Hotels, Resorts and Camping, F&B Outlets Management, Service Concepts and Product Development. He shall also be responsible for Valfresco and Central Kitchen and Staff Accommodation.

The member of the Management Board Davor Brenko shall individually manage the business in the following areas: Sales and Distribution, Revenue Management, Brand Management, Direct Sales and Marketing, CRM and Guest Database Management and development of Valamar Experience Concierge tourist agency. He shall also be responsible for Artificial Intelligence (AI) and Digital Development.

In the management of the Company’s business, the Management Board shall cooperate in particular with the following executives in charge of the particular areas:

• Executive Vice-president for Real Estate Management and Investment Alen Benković in charge real estate management and maintenance, investments, technical services, laundry services and energy management.
• Executive Vice-president for Strategic planning and controlling Sebastian Palma in charge of strategic planning and controlling, investment feasibilities, business intelligence and tax incentives.
• Vice-president for Human Resources and Talent Management Ines Damjanić in charge of human resources management, employment, payroll and remuneration policies, education and training, employee accommodation policy, employer branding, talents and culture, unions and social partners and other activities in the area of human resources.

The senior management team is responsible for managing specific functional business areas and activities. In addition, the senior management team is tasked with cross-functional steering and leadership, implementing the corporate strategy and providing management support to the CEO.

Hence, the senior management team works closely with the Management Board and relevant corporate functions through Business Committees that are focused on those strategic activities in the Company that require a high degree of cross-functional involvement:

• Executive Committee
• CAPEX Committee
• Product and Service Development Committee
• Human Resources Committee
• Procurement and Operations Committee
• ESG Committee
• Business Development Committee
• Risk Committee

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