Craciunescu has been member of Oltchim Board since 2009.
Oltchim said Monday in a statement that Nicolae Rotileanu resigned from the company’s Board and will be replaced by Economy Ministry state secretary Rodin Traicu, who will take over as chairman and acting member of the Board.
Rotileanu was appointed acting member of Oltchim Board on June 21, together with Mihai-Radu Saptefrati.
Oltchim is majority owned by the Economy Ministry, with a 54.79% stake, and the government plans to sell its stake in Oltchim at the end of the third quarter or in early fourth quarter.
Oltchim shares significantly gained ground last week, after Ziarul Financiar daily announced the company’s privatization ad will be published this week.
Prime Minister Victor Ponta has recently said the company will be sold “the next months,” while Economy Minister Daniel Chitoiu said the government has approved a state guarantee for a EUR40 million loan for the company. Oltchim, which was placed under special administration late June in view of privatization, will use the money to finance its working capital and prevent further loss.
According to most recent data, Germany’s PCC holds 18.32% of the company’s shares, while UK-registered investment fund Carlson Ventures owns a 14.02% stake, through Nachbar Services.
Oltchim shares closed Monday at RON0.845, down 0.59% on the day. (EUR1=RON4.5558)