Ilie Carabulea, the biggest shareholder in Banca ComercialaCarpatica (BCC), with a 36.45% stake, was appointed as president ofthe bank, replacing Viorel Grigore, who did not get the NBR'sapproval. Analysts believe the management change will not modifythe strategy of the lending institution that is pending the highestcapital increase in its history. Nicolae Surdu was reconfirmed aspresident of the board of directors by supervisory board members.The appointment of the two comes after, in late February, theNational Bank of Romania approved only three of the five membersthat shareholders had proposed for the supervisory board. "IlieCarabulea's appointment will boost the bank's image. When thepresident is also the most important stakeholder, his involvementin the bank's management will of course rise. On the other hand,the bank's strategy will not change because Ilie Carabulea couldalready influence the management from his position as the biggestshareholder," said Mihai Chisu, a broker with IFB Finwestbrokerage.
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