Karina Pavăl, 24, daughter of Dragoş Pavăl, the owner of the Dedeman DIY retailer, was appointed by the shareholders of the national crude oil transport Conpet Ploieşti on the board of administrators of the state-owned company. Karina Pavăl was proposed in the board of Conpet Ploieşti, a company of 780 million lei, by Dedeman, as the DIY retailer detains 7.4% of the share capital.

Conpet Ploieşti elected seven new administrators in the BoA of the company, each with a four-year term. The shareholders also decided the monthly fixed gross allowance for the elected administrators to 13.022 lei, equal with “two times the average over the last 12 months of the monthly gross average earnings for the activity performed according to core business registered by the company (NACE Code 49), at the level of class as per the classification of the activities in the national economy, communicated by the National Institute of Statistics prior to the appointment”, the announcement submitted to the Bucharest Stock Exchange writes.

CONPET, the company managing the national crude oil transport system, is controlled by the Ministry of Energy (58.7%), with a free-float of over 41%, of which legal entities hold almost 30%. The company posted a net profit of 21.62 million lei in the first six months (S1) this year, down nearly 40% compared to the same period last year, in the context of the increase in operating expenses by 8.97%.

The brothers Dragoș Pavăl and Adrian Pavăl, the owners of Dedeman DIY company, bought a package of about 550,000 Conpet shares in April and thus reached 7.4%.

Dedeman has business of over one billion euros a year and about 10,000 employees.

Karina Pavăl is a graduate of Cambridge University and according to www.businessnews.ro it is to take over the Dedeman business.

photo source: Facebook