Franklin Templeton, the sole director of Fondul Proprietatea, informs that Steven van Groningen has resigned from his positions held within the Fund’s Board of Nominees and its Consultative Committees. The effective date of the resignation is 13 November 2020.

The appointment of a new member of the Board will be on the agenda of the next general meeting of the shareholders of the Fund.

His decision to resign comes from his wish to observe the strict corporate governance standards of the London Stock Exchange, where Fondul Proprietatea has a secondary listing, which provide that a Board member of a listed investment company may not be considered independent after serving in that position for more than nine years, a release shows.