Romania makes changes to corporate governance legislation in SOEs

Fondul Proprietatea manager welcomes changes to corporate governance legislation in SOEs

Newsroom 13/05/2016 | 11:52

The portfolio manager of Fondul Proprietatea, the closed-end fund worth EUR 2.5 billion, said the recent amendments of MPs to the Government Decision 109/2011 regarding the appointment of private managers and professional boards in state-owned enterprises.

FP’s head, Greg Konieczny, said the current Government has focused on improving the management situation of companies where the state has controlling stakes.

“Fondul Proprietatea considers that the Government’s focus should be now placed on the correct implementation of the amended legislation, which should be done in the spirit of the law and intended to increase the transparency, efficiency and performance of SOEs,” said Konieczny.

The fund has stakes in some of the largest state-owned companies including energy producer Hidroelectrica and airports administration company Aeroporturi Bucuresti.

FP shaeres are trading on the stock exchanges in Bucharest and London.