Romania's Oltchim names new director general

Last Wednesday, Oltchim's former director general Constantin Roibu and the members of the executive board, including Olaru, resigned due to what they said was lack of communication and collaboration between the company and Romania’s industrial privatisation office, OPSPI.

Romania plans to sell its 54.8% stake in Oltchim at an auction on September 18. Prospective buyers have to file their bids by September 17.

On September 11, Oltchim's management board accepted Roibu's resignation but rejected the resignation of the other members of the executive board, Oltchim said in a statement.

Olaru, who is also Oltchim's production and investment director, was appointed as director general as of September 12, it added.