Fondul Proprietatea announced the departure of one of its directors, Mike Sommer, as of May 1.

”The Investment Manager announces that with effect from 1 May 2019, Mr. Mike Sommer’s position as permanent representative of Franklin Templeton International Services S.À R.L. (“FTIS”) in its capacity as alternative investment fund manager (the “Alternative Investment Fund Manager”) and Sole Director of Fondul Proprietatea S.A. shall be considered ceased”, according to a release.

”Therefore, starting with 1 May 2019, the legal representation at the level of the Alternative Investment Fund Manager and Sole Director will be as follows: Mr. Craig Blair, Mr. Dan Gheorghe, Mr. Călin Meteș, Mr. Johan Meyer, Mr. Daniel Naftali and Mrs. Denise Voss, as permanent representatives, with Mr. Johan Meyer being also the portfolio manager of the Fund.”