Key move. Stere Farmache appointed interim administrator of Sphera Frachise group

Georgiana Bendre 12/02/2018 | 17:15

Stere Farmache, the former director of Bucharest Stock Exchange (BVB), has been appointed interim administrator of Sphera Frachise group, which comprises the brands KFC, Pizza Hut and Pizza Hut Delivery, according to a report of the company.

„Sphera Franchise Group SA’ board informs the shareholders and investors regarding the temporary appointment of Farmache Stere – Constantin, as administrator of the company, member in the board, starting February 9, for three-month period up to the date when the General Meeting of company’ s shareholders will decide the appointment of a member in the board,” says the company’s report.

Farmache was the CEO of BVB between 1995-2009. During 2009-2013, he held leading positions at Alpha Bank Romania.

The company also announced that Elyakim Davidai resigned from independent administrator position from personal reasons, on February 6.

Sphera Franchise Group has a capitalization of RON 1.47 billion.

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