Surprise change at Albalact

Traian Simion, general manager of Albalact dairy producer,
announced his withdrawal from the company, after he bought 1.6% in
stock from Raul Ciurtin last week. Raul Ciurtin, chairman of
Albalact’s (ALBZ) Board of Directors, announced he would take over
the general manager position after Simion’s resignation. Simion had
run the company since 2008. Simion announced he left the company to
pursue other professional projects after five years during which he
was part of the management team of Zuzu and Fulga dairy brand
producer. His decision is surprising, the more so as he a week ago
bought 1.6% in Albalact stock for 1m euros. Contacted by ZF,
Simion, 44, chose not to comment on the reasons for his departure
from Albalact or on the stock he owns in the dairy producer. “I
will not comment. It was a personal decision,” he told ZF. Under
his management, Albalact turnover climbed from 154m RON (46m euros)
to 190m RON in 2008, and in 2009 the company reported 167m RON
turnover for the first nine months.