Press Release

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

The Foreign Investors Council's new Board of Directors elected, on 16 June 2015, the three members of its executive management: the President and the Vice Presidents. For the past 19 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 2016, consists of:

Position Name & Company
President Eric Stab, Chairman & CEO, GDF SUEZ Energy Romania
Vice President Daniel Anghel, Tax Partner, PricewaterhouseCoopers Romania
Vice President Jean Valvis, President & General Director, Valvis Holding

Eric Stab, 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. 

Eric Stab: I am delighted to have been elected President of the Foreign Investors Council. The FIC is a great organization, well recognized as a partner for dialogue by policy makers and respected as a major voice of the business community. I know that I can count on my fellow Board members as well as on all our member organizations to contribute to our activity and to help ensure that Romania will remain an attractive place for investors. I also wish to warmly thank Mihai Bogza, our outgoing President, for the outstanding leadership he offered to our organization over two mandates. 

Mihai Bogza, the outgoing President of FIC declared: I believe the rule of allowing only two consecutive mandates for a person as president is a very appropriate rule for an organization such as FIC. On the one hand this means the organization will not be identified with a single person and, on the other, it allows FIC to draw on the exceptional expertise and knowledge of its Board members. What is more, this activity consumes a considerable amount of time which is being "taken away" from other professional or personal activities and it is normal for this responsibility to be shared between Board members. It was an honour for me to be the President of FIC during such a challenging period. At the end of my mandate I would like to thank my colleagues from the Board, the permanent staff of FIC and all the members which contributed to our work in different task forces and during various events we organized. I want to wish all the best to the new president and the new executive management team and I assure them of my full support going forward. 

Last month the FIC launched the 2015 edition of its White Book "Regaining Momentum" 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 Eric Stab 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) 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, PwC Romania
  2. Mihai Bogza, Chairman of the Board of Directors, Bancpost
  3. Barbara Cygler, General Manager, GlaxoSmithKline (GSK) Romania
  4. Kinga-Agnes Daradics, Country Chairman & CEO, MOL Romania
  5. Jean-Francois Fallacher, CEO, Orange Romania
  6. Bert Fol, General Manager, Radisson BLU, Bucharest
  7. Mariana Gheorghe, CEO, OMV Petrom
  8. Steven van Groningen, President & CEO, Raiffeisen Bank
  9. Farrukh Khan, Partner, Deloitte Romania
  10. Nicolas Maure, President & CEO, Automobile Dacia, Managing Director Renault Romania
  11. Francois Petry, CEO, Holcim Romania
  12. Eric Stab, Chairman & CEO, GDF SUEZ Energy Romania
  13. Ravinder Takkar, CEO, Vodafone Romania
  14. Serban Toader, Senior Partner, KPMG Romania
  15. Jean Valvis, President & General Director, Valvis Holding


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 120 member companies whose cumulated investments in Romania represent approximately two thirds of the total foreign direct investment made since 1990. 

The FIC members provide a variety of goods and services and have created almost 200,000 direct and indirect jobs for the Romanian economy. 

In almost 20 years of activity, the FIC has proven to be a constant presence and a valuable dialogue partner with objective and professional approach regarding the problems about the Romanian economy development and improving the business environment. 

Foreign Investors Council (FIC) -