SIF Oltenia preparing for elections

SIF Oltenia will be the first of the five financial investment companies (SIFs) to organise periodical elections to its management board, which will head the company over a four-year period. The company has already convened its General Assembly of Shareholders to elect a new management board in mid November. Over the last few years, because of the highly dispersed nature of the shareholder structure, the selection of new board members has almost always generated conflicts between shareholders in the case of the five SIFs. The shareholder structure concentration process has allowed board structures to more clearly reflect the shareholding structure, starting this year. During the first half of this year, a number of SIFs have completed their management teams following the resignation of some members whose positions within SIFs were incompatible with the other positions they held. SIF Oltenia manages assets worth 6,400 billion ROL (156 million euros) in total. ZF