Bucharest Stock Exchange head Septimiu Stoica to resign

Romanian Stock Exchange (BVB) president Septimiu Stoica announced on Monday that he would resign from the job which may be taken over by Stere Farmache, the current general manager of the Stock Exchange, a BVB press release says.

Farmache told HotNews.ro that Stoica is in fact withdrawing from the post given his promis at a BVB board meeting that he would support unifying the posts of BVB board president and general manager.

According to the BVB press release, Stoica has proposed the bourse board to unify the two jobs. He also proposed Farmache to take over as board president at the next general meeting vote.

The administrative board of the BVB accepted the proposals.