The deadline for candidacies expires on Thursday.
Van Groningen is backed by US hedge fund Elliottt Associates, which is the largest shareholder in the Proprietatea fund, with a total 13.86% stake.
Another candidate backed by Elliottt is Piotr Rymaszewski, director of Polish Octava NFI din Polonia.
City of London, which holds some 7% in Fondul Proprietatea (FP.RO), proposed Julian Rupert Francis Healy, a provisional board member, who would replace Bogdan Dragoi. The latter resigned after becoming finance minister.
Other candidates include Cristian Busu, currently a member of the board, Dumitru Beze (president of bourse player association AIPC), Razvan Mircea Milea and Ilie Calugaru.
Fondul Proprietatea shareholders will convene on April 4 to discuss the dismissal of the Board of Representatives. The option came into play as the government’s stake in the fund narrowed to 2.69%, which changes the shareholding structure.
The Board of Representatives includes four members and one president. One of the seats on the board is vacant after Dragoi’s resignation.
The board is mainly tasked with oversight, budget approval, investment monitoring and goal evaluation. In addition, the board can recommend the termination of fund manager Franklin Templeton’s contract.