Bucharest Exchange CEO To Step Down Jan 1 as Part of Bourse’s Listing Plans, Restructuring

Farmache will stay on as BVB president.

“BVB’s shareholders yesterday approved the listing plans for the bourse and have mandated the managing board to prepare the process, which will last at least six months, and we believe that the exchange’s new legal status as a listed company will entail improvements and changes in its corporate governance, and in this sense the CEO position needs to be separated from that of the president,” Farmache told SeeNews.

Anca Dumitru, one of the BVB deputy director generals will serve as acting CEO for six months, Farmache said.

Further details about BVB’s listing were not immediately available.

The listing of a stock exchange creates more favourable conditions for its future development and transparency for the investors. It also serves as a good example for other companies mulling a public status, Farmache told SeeNews in a recent interview.