According to an official statement of the Ministry of Culture Cholakov will lead the institution up to the announcement of a new competition call.

Cholakov graduated in radio physics and electronics from the Sofia University St. Kliment Ohridski and directing of photography from the National Academy for Theatre and Film Arts.

As the former deputy director of the National Film Centre from 1991 to 1995 Cholakov represented Bulgaria at the Eurimages Board from 1993 to 1995. He also worked as expert in cultural committees at the National Assembly and as president of the National Film Council, an advisory body by the NFC, from 2008 to 2010. He was a lecturer in Production by the National Academy for Theatre and Film Arts and the New Bulgarian University.

Since 1995 Cholakov has produced and coproduced eight features, 50 documentaries and several animated films.