Czech billionaire becomes PM with promise to cut ties to business empire

Andrej Babis, a Czech billionaire, has been appointed as the Czech Republic's new prime minister. His appointment followed a demand from President Petr Pavel that Babis relinquish control over his Agrofert conglomerate. Babis pledged to place Agrofert, which includes over 200 subsidiaries, into a trust managed by an independent administrator until his death, at which point it will pass to his children. Babis, who served as prime minister until 2021, has shifted to the right and his cabinet will include members of far-right and Eurosceptic parties. Critics, including Transparency International, remain skeptical about the effectiveness of the trust in ensuring a true separation between Babis and Agrofert.

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