Piotr Rymaszewski and Julian Healy have ended their third terms in office with the Board of Nominees of Fondul Proprietatea, Franklin Templeton International Services informed on Tuesday.
"Franklin Templeton International Services S.A R.L, in its capacity as alternative investment Fund Manager and sole director (the 'Fund Manager') of Fondul Proprietatea S.A. (the 'Fund'), informs that on the April 5 2021 Mr Piotr Rymaszewski and Mr Julian Healy successfully completed their third mandates held within the Board of Nominees of Fondul Proprietatea," reads a press release sent to AGERPRES.
Mr Rymaszewski was also the Chairman of the Board and Mr Healy was the Chairman of the Audit and Valuation Committee.
'We would like to extend our sincere gratitude to Mr Rymaszewski and Mr Healy for their outstanding contributions over the last 9 years, which played a critical role in the Fund's success to date. We have great appreciation for their commitment, thoroughness and deep understanding of the Fund, as well as the international perspective they brought to the Fund's Board. Furthermore, they were strong supporters of the Fund's efforts to improve corporate governance and promote the listings of state-owned portfolio companies, as well as the implementation of discount control mechanisms aimed at unlocking the value of the Fund's portfolio. It has been a great pleasure working with them and I would like to wish them all the best in their future endeavours,' said Johan Meyer, CEO of Franklin Templeton Bucharest and Portfolio Manager of Fondul Proprietatea.
Fondul Proprietatea adheres to the strictest standards of corporate governance of the London Stock Exchange, where the Fund is listed through GDRs. These indicate that Board members of listed companies are no longer considered independent after serving more than 9 years in the Board of a company.
On March 24 2021 the Fund's shareholders elected as members of the Board of Nominees, for a three-years period, Mr. Nicholas Paris and Ömer Tetik, following the expiration of the mandates of Mr. Julian Healy, and respectively Mr. Piotr Rymaszewski on April 5 2021.
The appointment of a new Chairperson of the Board of Nominees and the appointment of a new Chairperson of the Nomination and Remuneration Committee will be on the agenda of the next Board meeting.