The Bucharest Stock Exchange (BVB) introduces the Corporate Governance Committee, which will support the implementation and monitoring of the revised version of the Corporate Governance Code 2025, helping issuers improve their transparency, accountability and governance practices.
According to a BVB press release, the initiative aligns BVB with international standards and OECD principles, consolidating Romania's progress in corporate governance reform and increasing investor confidence.
The revised BVB Corporate Governance Code, updated by BVB in collaboration with the European Bank for Reconstruction and Development (EBRD), will apply starting with the 2025 financial year.
BVB states that the 2024 monitoring report on the previous version of the Code indicated a high level of compliance among listed companies in areas such as board independence, conflict of interest disclosure and board structure.
"However, challenges persisted in terms of board assessment, reporting practices and nomination processes, where additional guidance and oversight are needed. The Commission is designed as a key advisory body, aimed at addressing these less developed areas and strengthening overall governance standards," the release added.
The Corporate Governance Committee will focus on three strategic directions: supporting the implementation and monitoring of the revised Corporate Governance Code; promoting alignment with OECD principles and new global governance expectations; developing a culture of governance excellence in the capital market through guidance, dialogue and engagement with listed companies.
"Its activity is intended to contribute to a more transparent, well-regulated and investor-oriented market environment. By introducing the Corporate Governance Commission, the Bucharest Stock Exchange reaffirms its commitment to strengthening governance standards and improving the credibility and competitiveness of the Romanian capital market. This initiative underlines BVB's commitment to sound corporate governance, as a foundation for sustainable growth, investor protection and long-term market development," BVB emphasizes.
International developments provide additional context regarding the relevance of the Committee. The OECD Corporate Governance Factbook 2025 highlights a strong global momentum towards increased board accountability, a clearer separation of oversight responsibilities and the expansion of sustainability governance. With 92% of jurisdictions now including provisions on board-level risk oversight and 79% requiring sustainability reporting, global frameworks underline the importance of comprehensive governance systems that ensure resilience, transparency and long-term value creation.
By introducing the Corporate Governance Committee, BVB aligns itself with these international trends and consolidates Romania's progress in meeting OECD expectations as part of its accession process.
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