Mr Zslot Kövári has been selected as the new CEO of passenger unit MÁV Start, Mr Imre Rácz will lead MÁV Trakció and András Csepke is to head maintenance subsidiary MÁV Gépészet.

News of the shakeup follows the recent decision by the Hungarian government not to proceed with a Forints 300bn ($US 1.37bn) consolidation of MÁV debts (IRJ November p14). MÁV is now seeking a Forints 13.8bn restructuring loan.