Bogdan Drăgoi, a secretary of state with the Finance Ministry,and Monica Maurer, the adviser of Economy Minister Adriean Videanu,together with another 11 people, including current or formermanagers of state-owned energy companies, lawyers or multinationalheads, have submitted their candidacies for one of the five seatsin the Representatives Committee, which will supervise themanagement of Fondul Proprietatea (Property Fund - FP) by FranklinTempleton.
On September 6, FP shareholders have to approve the appointment ofBritain's Franklin Templeton firm as a single manager. Byappointing the British firm at the helm of the Fund, the currentmanagement will be revoked, with the manager to be supervised andmonitored by a Representatives Committee.
The Committee will be the main lever through which the Fund's mostpowerful shareholders will exert their influence over the fund'smanagement, so that the names of investors supporting candidatesare as important as the names of the candidates themselves.
The five members are appointed for a three-year term that can beextended, considering the Romanian state is expected to losecontrol at the Fund by 2013 as its stake goes down to less than33%. Payments proposed to shareholders for the members of theCommittee stands at 9,000 RON/month in gross amount (1,500 euros innet amount).
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