The term of office will take effect on January 24 and may be terminated at any time before expiry in case of appointment of a CEO under the terms of Emergency Ordinance 109/2011 on corporate governance of public companies, according to a notification sent to the Bucharest Stock Exchange.
Romaero Bucuresti is a strategic company for the Romanian aerospace and defense industry, with a capitalization of RON184 million.
The company is 56.7% owned by the Romanian government through the Economy Ministry, followed by SIF Muntenia (23.2%), Fondul Proprietatea (18.9%) and other shareholders (1.2%), Bucharest Stock Exchange data show.
(English version by Loredana Fratila-Cristescu)