Dinel Staicu, until recently one of the most influential personson the Stock Exchange, having under management the 1.55bn RON (360meuros) assets of SIF Oltenia (SIF5), including 5.5% in BRD and 6.1%in BCR, is set to leave the SIF chairman position starting February1, after having being sentenced to 12 years in prison by theBucharest Court of Law in the BIR fraud case. What changes couldhis exit bring about?
Dinel Staicu's term at the helm of SIF Oltenia started in June2006, through the ousting of former chairman Vasile Şalapă, and hasbeen wrought with scandals, most of them related to the criminalfiles he has been investigated in.
His departure from SIF Oltenia reopens the battle for domination atthe most coveted of the SIFs.
At present, it is not clear how many shares Staicu still holds inSIF Oltenia and whether once he leaves the company's board he willhave the power to control SIF's management.
Staicu's main rival is businessman Cătălin Chelu of Galaţi, whocontrols around 7% in SIF Oltenia.
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