Mark Gitenstein has resigned from the Board of Nominees of Fondul Proprietatea

Franklin Templeton International Services, in its capacity as alternative investment fund manager and sole director of Fondul Proprietatea informs the investors that Mr. Mark Gitenstein has resigned from his positions held within the Fund’s Board of Nominees and all consultative committees of the Fund. 

The effective date of the resignation is 18 December 2021. The appointment of a new member of the Board will be on the agenda of the next general meeting of the shareholders. The procedure for proposing a candidate and the required documentation will be published on or around 24 February 2022, when the Fund Manager will publish the current report for calling general the annual shareholders meetings. Mr. Johan Meyer, Portfolio Manager for the Fund and CEO for Franklin Templeton International Services Bucharest Branch stated: “I would like to thank Mr. Gitenstein for his dedication, guidance and support to the Fund during the eight years in which he served as member of the Board of Nominees. He has been relentlessly advocating for the Fund’s key objectives, particularly increased corporate governance, transparency and accountability in state-owned portfolio companies. It has been a privilege working with him and I would like to wish him all the best in his future endeavours”.

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