The highest salary among 27 executive directors of state-owned companies was received last year by the head of the Montenegrin Electricity Distribution System (CEDIS). Vladimir Ivanovic - in December he was paid 5.644 euros. The lowest monthly income - 1.370 euros, was reported in May 2025 by the acting director of the company "Marina Bar" Milan Ćetković.
This is shown by the documentation submitted by the directors of state-owned companies to the Anti-Corruption Agency (ASK) in their annual reports on assets and income for 2025.
Data analyzed by "Vijesti" shows that directors report salaries and all other compensation separately, but also that for some of them, their earnings are not fixed, but the amounts change from month to month, depending on the number of working days, variables, overtime hours, night work and work on holidays...
Thus, last year, Ivanovic received salaries ranging from 4.618 to 5.644 euros in December. He also reported a winter allowance of 918 euros, as well as the compensation he received as a member of the Coordination Body for the implementation of the Velje Brdo project, from which he earned 460 euros per month or 5.500 for the year. He reported earnings of 4.800 euros from renting out the apartment.
Among those who earned more than 5.000 euros per month is the executive director of "ToMontenegro" Vukadin Stojanović, who earned 5.081 euros per month last year, or 60.972 for the entire year. In addition to his basic salary, he also reported receiving a thousand euros per month under the “accountability” category.
He also earns some money from renting out real estate.
Executive Director of the company "Plantaže" Igor Čađenović Last year, he earned between 4.271 and 4.849 euros in salary, while the head of "Budvanska Riviera" Jovan Gregovic received between 4.549 and 4.701 euros. Gregović also received a winter allowance of 600 euros, and reported that he earned 23.085 euros from renting out apartments during the summer tourist season.
Among those who received more than 4.000 euros per month is the executive director of "Aerodrom Crne Gore". Roko Tolic - from 3.748 to 4.438 euros, and he also received 600 euros in variable pay.
Director of the Electric Power Company (EPCG) Zdravko Dragas He took up the position at the end of last year, and reported a December salary of 4.077 euros.
Although he reported the lowest individual monthly income among those surveyed, the data shows that the acting director of the company "Marina Bar" Milan Ćetković earned between 1.370 and 3.870 euros in May. He also reported a rent of 350 euros per month, or 4.200 euros per year.
Executive Director of the “Montenegrin Electricity Transmission System” (CGES) Ivan Asanović Last year he received 3.719 euros per month, or 44.639 for the year, while he received a winter allowance of 513 euros and 800 euros for other benefits. He was also a member of the Coordination Body for Velje Brdo, from which he received from 291 to 460 euros per month, from which he earned a total of 4.942 euros.
The executive director of the Public Company for Coastal Zone Management, Mladen Mikijelj, earned between 3.436 and 3.686 euros per month, and was also paid a 13th salary from 2024 in the amount of 3.436 euros. The winter salary in that company was 495 euros, with 100 euros for New Year's gifts. He received 407 euros as a councilor's compensation for his work in the Budva Municipal Assembly.
Salaries of the director of the “Regional Water Supply Company of the Montenegrin Coast” Krsto Radović They amounted to 3.676 euros, so last year he earned 44.116 euros, while he received a one-time variable payment of 800 euros. Radović received a thousand euros per month in rent, or 12.000 euros per year.
The first man of the Pljevlja "Coal Mine" Nemanja Laković Last year, he received a monthly salary of 3.506 to 3.572 euros, while he received 950 euros for winter food. He also earned 7.600 euros from renting out the building.
On the opposite side of the country, the executive director of "Barska plovidba" Boris Mihailović He earned a salary of 3.420 euros, or 41.040 euros per year. He received 700 euros for winter food and 500 euros for New Year's. Mihailović received a thousand euros in rent throughout the year, or 12.000 euros per year. He reported that he earned 600 euros per month, or 7.200 euros per year, from his own company. He earned 20.000 euros from renting out his apartment during 2025.
Director of the “Montenegrin Electricity Market Operator” (COTEE) Mersudin Gredić He earned between 2.695 and 3.016 euros, while his file also listed an unnamed payment of 908 euros from December last year.
Executive Director of “Monteput” Milan Ljiljanic He earned 2.896 euros per month, so last year he earned a total of 34.753 euros. He received 500 euros from winter food, while he also sold his car for 5.000 euros.
After taking over the helm of “Solar Gradnja” in the middle of last year, the acting executive director Sanja Žugić She has been receiving 2.857 euros since June.
Executive Director of "Railway Infrastructure" Marina Bosković Last year, she earned between 2.295 and 2.547 euros, while she reported that she was also paid 769 euros due to a correction from 2024.
Director of HTP "Ulcinjska Riviera" Armand Mila He received 2.311 euros per month, or 27.732 euros for the entire year.
On the other side of the coast, the head of the "Simo Milošević Institute" in Igalo Zoran Kovacevic He earned 2.300 euros, or 27.600 euros per year, with a professorship fee of 480 euros - from which he earned 4.800 euros in ten months. He earned 12.000 euros from renting out his apartment last year.
Salary of the executive director of Nikšić's "Željezara" Miloš Nikolić it was between 2.298 and 2.308 euros, while he also received 529 euros in winter allowance.
Director of "Railway Rolling Stock Maintenance" (OŽVS) Goran Đurković He received between 2.042 and 2.158 euros, while he received 100 euros for winter food and 335 euros according to the decision of the Trade Union Organization. He also had an income of 523 euros through the State Treasury and the Center for Vocational Education, in addition to 612 euros from insurance.
The first man of the "Post of Montenegro" Josip Đurašković He earned 2.116 euros per month, so his annual income was 25.392 euros.
Acting Executive Director of the Port of Bar Ilija Pješčić He reported a salary of 2.100 euros, meaning that he received a total of 25.200 euros last year.
“The Under 2.000 Club”
Executive Director of the company "Montekargo" Dušanka Dragojević Last year, she earned between 1.960 and 1.997 euros, with 200 euros paid for winter food and March 8th.
In another company on the rails, the director of "Railway Transport" Dragana Lukšić She earned 1.872 euros per month, or 22.474 euros in total.
Executive Director of "Crnogorska plovidba" Vladimir Tadic He received 1.714 euros per month, which brought him to 20.568 euros last year. He earned 538 euros on the variable basis, or 5.380 in ten months.
In "Ski Resorts of Montenegro" Bojan Medenica As executive director, he received 1.638 euros for nine months, a total of 14.745 euros, while before that, as the manager of the “Kolašin 1600” Ski Center, he received a thousand euros for three months. As a local councilor, he received compensation for nine months in the amount of 229 to 310 euros, or a total of 2.310 euros.
Executive Director of the “Public Company for National Park Management” Marinela Đuretić Last year she earned 1.555 euros per month, a total of 18.664 euros.
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