August 26 (SeeNews) - Romanian home decoration retailer Vivre Deco S.A said on Thursday its CEO Monica Cadogan is resigning as of September 30.
After nine years as CEO, Cadogan is stepping down in order to pursue other entrepreneurial and personal projects, Vivre said in a statement filed with the Bucharest Stock Exchange, BVB.
Cadogan is also resigning as administrator of Vivre SRL and Vivre Logistics SRL.
She, however, will continue to own 45% of Vivre Deco shares through Advisory Delta, alongside Oliver Patrick Cadogan.
The company's board of administrators will convene on September 2 in order to appoint a new CEO.
Vivre Deco is present in nine countries in Central and Eastern Europe and ended 2020 with a net profit of 7.4 million lei ($1.8 million/ 1.5 million euro), compared to 3 million lei in the previous year, as its net turnover jumped 50% on the year to 295.2 million lei.
In July, Vivre Deco listed a 7 million euro ($8.3 million) bond issue on the multilateral trading system market of the Bucharest bourse.
The company said at the time it will use the proceeds to increase its market share and for investments in technology and automation.
(1 euro=4.9306 lei)