The effective date of the resignation is December 18, 2021.
Mark Gitenstein has resigned after serving as a member of the Board of Nominees of Fondul Proprietatea for eight years.
“The Board of Nominees greatly appreciates the commitment, vision and valuable input brought by Mr Gitenstein to the Board and the Fund during his long-term tenure. We especially salute his support for the development of the Romanian capital market for the benefit of all stakeholders involved and his unwavering dedication to implementing best corporate governance practices. It has been a great pleasure and growth opportunity working with him for the past year and I wish him all the best in his future career,” says Ilinca von Derenthall, Chairperson of the Board of Nominees.
The appointment of a new member of the Board will be on the agenda of the next general meeting of the shareholders. The procedure for proposing a candidate and the required documentation will be published on or around February 24, 2022, when the Fund Manager will publish the current report for calling general the annual shareholders meetings.
Fondul Proprietatea has a RON12 billion capitalization, after its shares have gained 29.4% since the beginning of the year, following transactions of RON889.3 million, Bucharest Stock Exchange data show.
(English version by Loredana Fratila-Cristescu)