Batoux, 49, previously ran the operations of Coca-Cola HBC Romania and Danone Romania.
Ciurtin, Albalact’s main shareholder and Executive Board Chairman, withdrew from the position of general manager which he has filled for the last four years. Ciurtin remains Chairman of the company’s Board, which has two vice-presidents: Petru Ciurtin and Cornelia Mioara Oancea.
Albalact expects its sales to exceed the threshold of EUR100 million in 2014, due to growth on the cheese and yogurt market and keeping market shares on the other segments. Albalact also estimates a 30% surge in net profit to 11 million lei (EUR2.5 million) this year.
The company owns two production units in Oiejdea (Alba County) and Campulung Moldovenesc (the Raraul factory). Albalact ranks third among dairy producers in Romania, with a portfolio of over 80 dairy products under the brands Fulga, Zuzu, Fruzu, De Albalact and Raraul. It employs over 800 people.
Romanian businessman Raul Ciurtin indirectly owns a 42.53% stake in Albalact, via two firms registered in Cyprus, namely, Crisware Holdings (26.86%) and Croniar Holdings Limited (15.67%), respectively. The shareholding structure also includes Cyprus-based investment fund RC2, which holds 25.45% of Albalact shares.