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


Bucharest, 12 June 2013 - the Foreign Investors Council's new Board of Directors elected, yesterday, the four members of its executive management: President, Vice Presidents, and Treasurer. For the past 15 years the FIC has worked closely with Romanian policy makers in a joint effort to improve the country's investment landscape and to promote sustainable economic growth and the new Board of Directors, with its newly elected President, will continue this effort.

The executive management team, with a mandate until May 2014, consists of:

Position Name & Company
President Mihai Bogza, Chairman of the Board of Directors, Bancpost
Vice President Steven van Groningen, President & CEO, Raiffeisen Bank
Vice President Eric Stab, Chairman& CEO, GDF Suez Energy
Treasurer Daniel Anghel, Tax Partner, PricewaterhouseCoopers Romania
Mihai Bogza, the new President, reinforced the FIC's commitment to work towards improving Romania's business environment, economic development and free market mechanisms for the benefit of the investors' community and society, at large.

Mihai Bogza: "The Foreign Investors Council will work to foster a virtuous circle where sustainable economic growth leads to higher levels of local and foreign investment and increased employment which in their turn will stimulate further growth".

The FIC will continue the dialogue with Romanian authorities and all other stakeholders with the objective of creating sustainable economic and employment growth and improving Romania's competitiveness and productivity.

Last month the FIC launched the 2013 edition of its White Book "The future starts now" a snapshot of Romania's current investment climate and, at the same time, a set of recommendations of what can be done to improve this climate and make it more attractive to foreign, as well as local, investors.

The main topics Mihai Bogza will focus on during his mandate leading FIC are (1) continuing the ongoing dialogue with policy makers and non-governmental stakeholders on policies that have already proved their effectiveness; (2) encouraging further dialogue and extensive consultations on any future policies which could have an impact on the business environment (3) fostering investments in sectors with high growth potential; (4) increasing the absorption rate of EU funds and the effectiveness of their spending; (5) making sure the business community contributes to Romania's hard won macroeconomic stability and sustainable growth.

The new Board of Directors was elected by the general assembly of the FIC on 14 May. According to the constitutive act of the organization, the mandate of each Board is one year, between the two General Assemblies of the organization.

The members of the new Board (listed in alphabetical order) are:
  1. Daniel Anghel, Tax Partner, PricewaterhouseCoopers Romania
  2. Mihai Bogza, Chairman of the Board of Directors, Bancpost
  3. Radu Enache, Country Manager, Hewlett-Packard
  4. Jean-Francois Fallacher, CEO, Orange Romania
  5. Mariana Gheorghe, CEO, OMV PETROM
  6. Steven van Groningen, President & CEO, Raiffeisen Bank
  7. Andrew Highcock, President, Ursus Breweries
  8. James Hyslop, Director, Romania, EBRD
  9. Monica Iavorschi, General Manager, Arctic
  10. Farrukh Khan, Audit Partner, Deloitte Romania
  11. Misu Negritoiu, Chairman, ING Bank
  12. Pascal Prigent, General Manager, GlaxoSmithKline
  13. Veronica Savanciuc, President & CEO, Lowe & Partners Group
  14. Eric Stab, Chairman & CEO, GDF Suez Energy
  15. Serban Toader, Senior Partner, KPMG Romania
The Foreign Investors Council (FIC) is an association of the leading investors in Romania. The FIC was established in 1997 when it officially began its activity with 25 companies as members.

Today, the FIC has 123 member companies whose cumulated investments in Romania exceed EUR 35 billion representing approximately two thirds of the total foreign direct investment made since 1990.

The FIC includes multinational companies providing the Romanian economy with a variety of goods and services and creating almost 200,000 direct and indirect jobs.

In Top 10 largest companies by turnover, 8 companies are FIC members, and 37 member companies are included in Top 100 - as per the report "Major Companies in Romania" published in 2011, by IBP.

Foreign Investors Council (FIC) - www.fic.ro


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