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The FIC's Board of Directors elected the new executive management


Bucuresti, 14 June 2011 - the FIC's new Board of Directors elected yesterday, at its first meeting, the four members of the executive management: President, Vice President, Treasurer.


The executive management team, with a mandate until May 2012, consists of:

Position Name & Company
President Steven van Groningen, President & CEO, Raiffeisen Bank
Vice President Frank Hajdinjak, CEO, E.ON Energie Romania
Vice President Serban Toader, Senior Partner, KPMG Romania
Treasurer Daniel Anghel, Tax Partner, PricewaterhouseCoopers Romania

The new Board of Directors proposes for its mandate both a higher involvement at specialist level in defining the necessary action in the following period and especially a higher involvement of the private sector in the implementation stage of such measures in order to create the premises of a consistent economic growth in the following year.

Mr. Steven van Groningen, the new President, thanked the previous executive team for the remarkable contribution brought to the FIC during their mandate and stated that the main objective for the following period is to continue the promotion of the dialogue between decision makers and investors, in order to resume and maintain the economic growth.

Under the presidency of Ms. Mariana Gheorghe, CEO Petrom, the FIC launched the "Program for Economic Growth". The Program includes over 80 measures for economic growth and was the main dialogue platform between the FIC's representatives and the authorities.

At the end of their mandate in May 2011, the previous Board registered a significant progress for 22 of the 84 proposed measures. The most important progress was registered in the field of reforming labor legislation, of settling the fiscal environment, of prioritizing public investments and in the field of reducing arrears in economy.

The main topics proposed by Mr. van Groningen for the FIC's future activities are: (1) to maintain the dialogue with the authorities for the measures that proved to have a positive impact on economic growth; (2) to increase the absorption of EU funds; (3) to plead for efficiency of the public institution system; (4) to implement the measures for attracting new investments in fields with growth potential: energy, agriculture, infrastructure; (5) to increase the number of the FIC's members and to consolidate the organization.

From the FIC's perspective, the improvement of the business environment and the increase of the public and private investments in Romania represent the premises that may lead to a sustainable economic growth in Romania.

The general assembly of the Foreign Investors Council (FIC) validated, on 3 May, a new Board of Directors. According to the constitutive act of the organization, the mandate of each Board is for one year, between the two General Assemblies of the organization.

The members of the new Board are as follows:
  1. Daniel Anghel, Tax Partner, PricewaterhouseCoopers Romania
  2. Stephane Batoux, General Manager, Danone PDPA
  3. Mihai Bogza, Chairman of the Board of Directors, Bancpost
  4. Mariana Gheorghe, CEO, OMV PETROM
  5. Steven van Groningen, President & CEO, Raiffeisen Bank
  6. Frank Hajdinjak, CEO, E.ON Energie Romania
  7. Farrukh Khan, Audit Partner, Energy & Resources Industry Leader, Deloitte Romania
  8. Grzegorz Konieczny, CEO Romania, Executive Vice President Portfolio Manager, Franklin Templeton Investment
  9. Jerome Olive, General Manager - Renault Group Romania, Chief Operating Officer - Automobile Dacia
  10. Claudia Pendred, Director, Romania, EBRD
  11. Veronica Savanciuc, President & CEO, Lowe & Partners Group
  12. Eric Stab, Chairman, Country Manager, President & CEO Eastern Europe, GDF Suez Energy
  13. Serban Toader, Senior Partner, KPMG Romania
  14. Jean Valvis, President & General Manager, Valvis Holding
  15. Markus Wirth, President of the Board of Administration, Holcim (Romania)

******

The FIC represents 128 companies in Romania. The cumulated investments of the FIC's members represent over two thirds of the total foreign direct investments in Romania. The cumulated turnover of the member companies is over EUR 36 billion, and the contribution to the Gross Domestic Product represents over 30%. The future investments of the member companies are over EUR two billion in 2011 and over EUR ten billion in the following five years.


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