Pogonaru appointed to BCR's Supervisory Board

Businessman Florin Pogonaru has become the fifth Erste Bank representative to the BCR’s Supervisory Board, following yesterday’s vote in the General Assembly of the Bank’s Shareholders. He now fills the position left vacant after Daniel Daianu resigned at the end of last year, in order to avoid controversies concerning his new position as a Liberal Member of the European Parliament. He collaborated with Erste since and during the almost one-year transition period until BCR’s shares effectively came under Erste ownership, and was one of the two observers that the Austrian bank appointed to follow the activity of the BCR’s Executive Board and Supervisory Board. Pogonaru, chairman of the Romanian Businessmen Association, is currently the only Romanian member of the Board that is led by Andreas Treichl, CEO of Erste Bank – the majority shareholder of the largest Romanian bank. Another two positions are allocated to the five SIFs (Financial Investment Companies), which hold an overall 30% of the BCR, but have been left vacant due to disagreements over the appointment of just two candidates. Yesterday’s General Meeting also saw the approval of the Financial Plan, and the Spending & Revenue Budget, as well as of the payment due to the members of the Supervisory Board for this year. BCR’s 2007 financial results will be published on February 29.