BVB deputy director general Alin Barbu to oversee activities while Sobolewski awaits Council decision

BVB deputy director general Alin Barbu will oversee the activities of the stock exchange, while Ludwik Sobolewski awaits the decision of the BVB Council that can clarify his legal status. Sobolewski’s mandate expired on Monday and he decided to step aside and let the Council decide.

According to the BVB, Alin Barbu has been, since 2009, one of the two BVB directors authorised by the Financial Surveillance Authority Council (ASF), and one of the individuals who, as per the provisions of the Constitutive Act and BVB Council decisions, is authorised to coordinate the activity of the BVB.

According to a report published on Monday, 21 August 2017, the mandate of the director general of the BVB Ludwik Sobolewski expired “creating an unusual legal situation (…) The decision on extending the contract for the mandate of the director general was not taken in the BVB Council meeting that was summoned to deal with the topic on 18 August 2017, due to lack of quorum. At the same time, no decision was made to remove Mr. Sobolewski.”

The current legal circumstances did not prevent Sobolewski from continuing his mandate at the helm of the BVB, however, he decided to step aside and await the decision of the BVB Council on the matter.