In a release Thursday, Azomures announced four board members have handed their resignation earlier this week.
Ionel Baibarac, Ali Eden, Suat Surmen and Talat Yldirim have stepped down from their positions, being replaced by Zivy, Jan Kadanik (vice-president of the board), Manuela Nicoleta Bobirnac-Ionescu (board member) and Gilles Louis Gabriel Viellet (board member).
The new directors will serve in an interim capacity, Azomures said.
In a later statement Thursday, Azomures said the board’s vice-chairman Jan Kadanik was also appointed as the new chief executive officer of the company.
Ameropa Holding, through its Pelican Fertilizer unit, on Wednesday completed the acquisition of a 75.8% stake in Azomures.
The deal’s value was undisclosed.
Azomures reported a net profit of 346 million lei (EUR80 million) in 2011, more than double on the year, fueled by a 35% increase in sales.
Thursday, Azomures closed up 1.17% at RON1.82 in Bucharest, amid a slightly declining market. (EUR1=RON4.3718)