SIF Oltenia Names New Board Chairman, GM

04.14.2011 By Florentina Dragu

Romanian regional investment fund SIF Oltenia (SIF5.RO) Thursday appointed Tudor Ciurezu as new Board chairman and general manager of the fund, following the resignation of Vasile Salapa.

Romanian regional investment fund SIF Oltenia (SIF5.RO) Thursday appointed Tudor Ciurezu as new Board chairman and general manager of the fund, following the resignation of Vasile Salapa.

Ciurezu, former vice-president in SIF Oltenia's board and deputy general manager, will take over his new attributions Friday, the fund said in a statement.

SIF Oltenia will elect a new vice-president of the board and deputy general manager on April 28.

Salapa was appointed chairman of the board and general manager of SIF Oltenia in January.

"Mr. Salapa cited personal reasons for his resignation. He gave up his positions as chairman of the board and general manager, but he will remain a member of the board," Ciurezu told MEDIAFAX.

SIF Oltenia has a share capital of 58 million lei (EUR1=RON4.1021), split into 580.1 million shares with a face value of RON0.1.

On the Bucharest bourse Thursday, SIF Oltenia closed down 2.75% at RON1.9 a share.