about us | newsletter | contact | archive | members area
Dan Copocean, Kimball Electronics
"I believe that the Romanian economy continues its development"»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Opinion: Greg Konieczny on corporate governance in Romania, mentions state-owned companies

Franklin Templeton Investment Management Limited UK Bucharest branch, in its capacity of sole director and fund manager of ondul Proprietatea announced that on February 11, in Bucharest, it held the second corporate governance conference focused on the separation of roles and responsibilities between the top executive management and the Boards of state owned companies.

2014-02-13 13:44:51

The conference debuted with a brief synopsis on Fondul Proprietatea, which was followed by presentation on the corporate governance experience of Czech company Pegas Nonwovens, delivered by Marek Modecki, member of the Board and Frantisek Rezac, CEO, who offered an overview on how the company's board and executive management operate, and their responsibilities and relationship with shareholders. They underlined the need for building trust and competence among these key stakeholders in order for the company to function effectively.

A comprehensive presentation on the importance and impact of corporate governance on various stakeholders was held next by Dr. Peter Jansen MBA, Lecturer at the London School of Business and Finance. Dr. Jansen talked about key principles of corporate governance such as accountability, responsibility, transparency, impartiality, independence and integrity.

Greg Konieczny, Fund Manager of Fondul Proprietatea, held a presentation on ways to incentivize management through share options, as a variable component of their remuneration.

"Improving the corporate governance of portfolio companies has been one of our top priorities ever since we began our mandate at Fondul Proprietatea. We believe that implementing proper corporate governance standards is essential if state-owned companies are to become more competitive and profitable, to the benefit of all shareholders, including the Romanian state. We are delighted with the positive feedback we have received from the representatives of these companies following this event. This feedback shows a genuine interest from top management in improving the efficiency, transparency and profitability of these companies and we hope to see some of the ideas discussed here implemented in the Fund's portfolio companies in the near future. Remuneration through share options is a great way to incentivize management to increase the value of a company. This is a widely used system of remuneration in other markets, where it has proven its efficiency and we are pleased that it is slowly being adopted by Romanian SOEs as well." stated Konieczny.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  2568 Views
Daily Info
Bonds of Globalworth will start trading on Bucharest Stock Exchange on July 31

Bucharest Stock Exchange (BVB) informs that the bonds of Globalworth will start trading on the main market on July 31, 2017, and are defined by the following: 5,500 bonds, nom...

OTP Bank Romania to take over Banca Romaneasca from National Bank of Greece

The National Bank of Greece signed an agreement with OTP Bank Romania on the sale of its equity holding of 99.28 per cent in Banca Romaneasca. The transaction involves the sha...

The healthcare system must be a priority, FIC says

Health is now a priority for Romanian authorities and the total spending on healthcare has grown significantly over the last four years (although it is still the lowest propor...

CET Govora reached 30 million RON profit in H1 2017

Heat and electricity producer CET Govora registered a net profit of 30.6 million RON in the first six months of 2017, compared to a net loss of five million RON in the same pe...

E van Wijk agrees new lease at P3 Bucharest park

Pan-European logistics property investor-developer P3 has signed a deal with Logistic E van Wijk, provider of integrated transport and logistics services, to lease 10,180 sqm ...

 
 
   
advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

New law on ports administration would be very damaging for Romanian state budget, Fondul Proprietatea says

Fondul Proprietatea is concerned by the renewed steps to approve the draft law amending the Government Ordinance on ports administration, which was re-examined and approved...

EIB lends one billion euro to Romania for transport infrastructure projects

The European Investment Bank (EIB) is lending one billion Euro to co-finance with European Structural and Investment Funds priority transport infrastructure projects totall...

New trading symbol for Patria Bank shares on Bucharest Stock Exchange

Patria Bank shares, a credit institution that operates on the Romanian banking sector, are traded under a new symbol on the Bucharest Stock Exchange (BVB) market, following...