Czech Billionaire Andrej Babiš Set to Become Prime Minister After Divesting Agri-Business Holdings
Prague - Andrej Babiš is poised to assume the premiership of the Czech Republic after transferring control of his vast agricultural, food, and chemical conglomerate, Agrofert, into a trust fund. The move addresses longstanding conflict-of-interest concerns that threatened to derail his appointment and signals a potential shift in Central Europe’s political landscape.
Babiš’s path to power has been shadowed by accusations of improperly benefiting from EU subsidies while concurrently shaping agricultural policy as a prospective prime minister. The divestment, exceeding legal requirements, aims to quell these criticisms and allow him to take office, joining a growing cohort of populist leaders in the region-including Hungary’s Viktor Orbán and Slovakia’s Robert Fico-who are challenging the established order in Brussels. The outcome has significant implications for future EU policy debates and the balance of power within Central Europe.
The transfer places Agrofert’s shares under the management of an autonomous administrator, with Babiš relinquishing his role as chairman of the Agrofert Foundation. He stated the decision was difficult,acknowledging a lifetime dedicated to building the company.
“This step, which goes far beyond the requirements of the law, was not easy for me,” Babiš said. “I have been building my company for almost half my life and I am very sorry that I will also have to step down as chairman of the Agrofert Foundation.”
Babiš further clarified that his children will not inherit Agrofert until after his death. The arrangement is intended to demonstrate a complete separation from the business during his tenure as prime minister, fulfilling demands for transparency and ethical governance.
His ascension marks a further tilt toward anti-establishment forces in Central Europe, potentially creating friction with the European Union on key policy issues. The situation will be closely watched as Babiš navigates the complexities of leading the Czech Republic while distancing himself from his extensive business interests.
