Ionut Popescu appointed general manager of PropertyFund
Ionut Popescu, a member of PD-L (Democratic Liberal Party) andadviser of Prime Minister Emil Boc, is the new general manager ofthe Property Fund (FP), after the Supervisory Board of the FPremoved Daniela Lulache from her position on Tuesday. He takes overat the helm of one of the largest Romanian companies, with over 3.2billion euros in assets, which holds stakes in the largest energycompanies. Ionut Popescu will earn over 10,000 euros (42,500 RONper month) as general manager of the Fund, a lot more than hisaround 800-euro (3,700-RON) salary as an adviser. He started hiscareer as a sports journalist, and then became editor-in-chief atCapital business magazine. He entered politics in 2003, when hejoined the PNL (National Liberal Party), and then accompaniedTheodor Stolojan to PD-L . He was finance minister within theTariceanu Government between 2004 and 2005. In 2009 he was adviserof prime-minister Emil Boc for almost a year. In addition to hisexperience in the financial sector, he is also a shareholder in theProperty Fund, where he holds 0.1%.
Rapotan family drops distribution of Unilever's productsafter 13 years
Unilever is left with two distributors on the Romanian market,Aquila and Macromex, after Legato, controlled by Angelica Rapotan,wife of Arabesque founder Cezar Rapotan - decided to end thepartnership with consumer goods giant. Legato, with 34.6 millioneuros in turnover, has been distributing Unilever products foraround 13 years, with this partner being its only big supplier ofconsumer goods. The company's partnership with Unilever has broughtit over 20 million euros in annual revenues, according to marketdata.
"We regret Legato's unilateral decision to end this partnership,which has been going on for a very long time," said representativesof Unilever South Central Europe. Contacted by ZF, representativesof the distributor did not wish to give comment on the issue.Legato is held by Angelica Rapotan (80% of the shares) and CatalinCisleanu (20%), according to data from the Romanian Trade Registry.
Scandia Sibiu tinned meat producer to pursueexports
Robert Redeleanu, who has been at the helm of the largest tinnedmeat producer on the Romanian market, Scandia Romania, since March,says the company needs to tap into other food industry segments inorder to weather the crisis and have more developmentopportunities. "We have to relearn how to grow. For the next yearwe will have a growth agenda in Romania and a cost-cutting agendain order to establish an export business," said Robert Redeleanu,general manager of Scandia Romania, a company with 53 million eurosin turnover in 2008, which controls over 67% of the tinned meatmarket. Redeleanu added that Scandia developed the tinned meatmarket significantly, but that a major change was needed in orderfor the producer to hit its targets over the next five years. "Wehave to expand outside tinned meat production, that is why I aminterested in other segments of the food industry," added thecompany manager.
Former CrisTim marketing manager recruited byBilla
Cristian Ungureanu, former marketing manager of charcuterieproducer CrisTim, took over the position of service manager atBilla Romania, and now coordinates meat and delicacies operations,sales, and purchases of the largest supermarket chain on theRomanian market. "To be fair I was not planning to return toemployee status very soon. I wanted to explore the possibility ofdeveloping a business on my own, while at the same time being veryeager to know what it is like in the other camp, after many yearsof negotiating with retailers (as a producer's employee i.e.). Thatis why I did not say no when I was offered this job," CristianUngureanu said. Cristian Ungureanu's term within the charcuterieproducer, which saw a rise in CrisTim's brand awareness, endedshortly after Radu Timis, owner of the over 90 million-eurocharcuterie business, decided to return together with wife Cristinato the helm of the business they founded 15 years ago.
ING Asigurari: New policy sales down tohalf
ING Asigurari, the largest company on the Romanian insurancemarket, sold 40,000 new individual life insurance policies, half asmany as in 2008, when 80,000 new policies were sold, says CorneliaComan, the company's general manager. The life insurance market washit by the rise in unemployment this year and by the decline in thepopulation's revenues, as well as by the fact that over 60,000people cancelled the policies they had sealed in previous yearsbecause they needed cash. "Currently, new policy sales are at2006's level. As far as overall gross premiums are concerned, thetrend of the first nine months will be preserved (a 9% decline onthe similar period of 2008). Sales in the last quarter were ratherweak, but client retention has improved," Coman says. In the firstnine months, ING Asigurari's underwritten premiums amounted to387.5 million RON (92.6 million euros), 9% less than in the similarperiod of last year. On the other hand, the insurer's gross profitwent up 2.3 times, to 75.5 million RON (18 million euros).
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
