UPDATE 1-CEZ approves new 4-yr term for CEO Roman

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The supervisory board of Czech power firm CEZ has extended the term of Chairman Martin Roman by four years from February 2008, the company said on Thursday.

Roman, 38, joined CEZ as chairman and chief executive in 2004, and has overseen the firm's expansion in central Europe and the Balkans.

CEZ also said Vladimir Hlavinka, chief of CEZ's nuclear power plant Temelin, would replace deputy chairman Jiri Borovec in January.

Martin Novak, currently head of accounting, will become chief financial officer, taking over from Petr Voboril who will move to head internal audit, CEZ said.

CEZ is the largest central European listed company, with a market capitalisation of $39 billion.

[PRAGUE/Reuters/Finance.cz]