Farmache steps down from BVB’s management

 Farmache provided no details regarding his reasons for this decision, and only said that he has more to offer in the private sector. Market sources say it was not a better salary offer which drove him away from the Stock Exchange’s management, considering the businessman had a monthly income of some €10,000. Anca Dumitru, currently Director at RASDAQ-ATS, will become BVB’s new CEO. “This is a decision made based on the fact that the Stock Exchange is preparing its listing, and I felt that if I postponed by departure this could affect trust in the company. Moreover, I wanted the listing to find the Stock Exchange as part of a corporate structure, and this is why I have separated the two positions [Ed. n. of CEO and President],” Farmache told Business Standard. Farmache has been BVB’s CEO since the Stock Exchange was re-founded in 1995, and became the company’s President as of December 2007, following the resignation of Septimiu Stoica, another surprise for the market. Asked if he would withdraw from the Stock Exchange after completing his presidential mandate, Farmache said it is too early for such a decision. “I do not know what will happen then. What I can say is that I will continue to function in my current position, until the end of the mandate,” added Farmache. “BVB’s strategy remains the one proposed by the Stock Exchange’s Board and validated by BVB’s shareholders,” said Anca Dumitru. (R.A., C.C.)