33 year-old Romanian takes over Bunge Romania's operations

Bunge Romania, leader of the Romanian vegetable oil market, has appointed Cristian Ungureanu, 33, at the helm of local operations, which exceeded 214 million euros in turnover last year. Ungureanu, who comes from the telecommunications industry, where he was CFO of the largest fixed telephony operator on the Romanian market, Romtelecom, replaces Michael Whitney, who headed Bunge’s local operations over the past four years, and who will take over an executive position at regional level. A graduate of the Institute of Internal Auditors (IIA) in the USA and of the Association of Chartered Certified Accountants (ACCA), Ungureanu will fill two positions at Bunge Romania, as managing director and as CFO – the position he was first appointed to when he joined the company in September 2008. “Romania is an extremely important market for Bunge at regional level. Developing business opportunities, consolidating the company’s position both on the cereal trade market and on the vegetable oil market under the current market circumstances are challenges that have made me eager accept the proposal,” Ungureanu told ZF. Bunge Romania has over the last few years been targeted by several efficiency-oriented and cost-cutting measures, and now holds one single production facility, employs around 400 staff, has a 40% market share and a 214 million-euro turnover. The company produces the Floriol, Unisol, Ulvex and Raza Soarelui brands for the Romanian market, and accounts for part of Bulgaria’s vegetable oil production.