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Bucharest
September 20, 2021
BUSINESS

Rodin Traicu resigns from position of Oltchim Chairman of the Board

Rodin Traicu, state secretary with MECMA, resigned from the position of Chairman of the Board of Oltchim, which he provisionally fills since the end of July, invoking motives of incompatibility. Another Board member that submitted his resignation is government inspector Radu Adrian, who evoked personal reasons. During the same meeting of the Board, Mihail Talpasanu was appointed deputy general manager, following a strategy change decided by the management of Oltchim that led to “redesigning the organisation system” by scrapping the position of deputy general manager Maintenance and Production which he held and creating the position of deputy general manager. The Oltchim plant resumed operations at the end of October. Its incomes dropped by 47 pc during the first nine months, to RON 721.9 M (EUR 162.8 M), while losses soared by 72 pc to RON 308.5 M (EUR 69.6 M). In the similar interval of 2011, the chemical plant posted total incomes of RON 1.36 bln and losses of RON 179.7 M. At the opening of yesterday’s trading session at the stock exchange, Oltchim shares dropped by 0.19 pc, to RON 0.5165. At this quotation, the capitalisation of the chemical plant is RON 177.2 M (EUR 39.6 M).

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