Company representatives went on to say that they will shortly announce changes to be effected after Munteanu’s departure.
No reason was given for the departure of the company’s COO as of 1 September 2008. Lucian Palaz, Chief Executive Officer (CEO) declared for Business Standard that Munteanu’s “departure is by mutual agreement.”
Affichage Romania, part of the Swiss Affichage Holding group, acquired three companies from the Multireklam portfolio at the beginning of the year. According to Palaz, Multireklam, the largest outdoor publicity company in Hungary, became the Romanian outdoor market leader. Affichage Romania is the representative of JCDecaux in Romania, the world’s number one street furniture leader.
Other companies on this market in Romania, valuated to be worth €80 million in 2008, are News Outdoor and Klass Advertising.
