has informed that Nicolae Danila has resigned from his position of the CEO of BCR yesterday, at the same time appointed Manfred Wimmer, current management board member, as new CEO effective from 1 December 2007.
Nicolae Danila was appointed CEO of BCR in 2000 and retained his position after the privatisation of BCR in 2005. According to unnamed sources, cited by Ziarul Finaciar, Nicolae Danila preferred the more conservative strategy in comparison to Erste Bank’s idea of faster development for the BCR.
During the integration process of BCR into Group, the Romanian bank was loosing market share, it should be clear that plans to regain the market. Given the increasing competitiveness of the Romanian banking market, the strategy has to be aggressive. We do not expect the news to have any material impact on the stock trading today.