Two executives of Croatian shipowner Uljanik Plovidba have quit following their arrests in relation to a probe into "financial damage" at unrelated shipbuilder Uljanik Group.
The tanker and bulker owner said its director Dragutin Pavletic had tendered his resignation, while Anton Brajkovic, deputy president of the supervisory board, later did the same.
No mention of the shipyard investigation was made in the statement by Uljanik Plovidba.
Pavletic is effectively the company's managing director.
Last summer, the shipowner hit back at what it called "make-believe" news reports seeking to link it to, or blame it for, the ongoing crisis at Uljanik Group.
The company pointed out it is completely independent from its former parent group.
Pavletic said he had resigned from Uljanik Group's supervisory board on 23 July 2018, to avoid the two companies being perceived as linked.
He joined the board in June 2017.
Lawyer Igor Budisavljevic, with 30 years of experience in the marine industry, has been appointed a new director for five years, Uljanik Plovidba said. It will also replace Brajkovic.
Pavletic and Brajkovic were two of 12 people arrested in Croatia this week as part of an investigation into the shipbuilder.
Brajkovic was former Uljanik Group boss Gianni Rossanda's predecessor as board chairman.
Rossanda, Paveltic, Marinko Brgic, Maksimilijan Percan, Silvano Kranjc and Veljko Grbac were remanded in custody on Thursday.
Brajkovic, Domagoj Klaric and Zdravko Plisko were released.
Darko Sorc, Elvis Pahljina and Eduardo Milovan were also arrested, but the prosecutor's office did not request custody for them.
The investigation relates to the terms of contracts for four newbuildings signed in 2010, the Hina news agency reported.
The Croatian government rejected a $1bn-plus restructuring of Uljanik Group this week, making bankruptcy more likely.
