Four of the managers of the companies listed on the Bucharest Stock Exchange own shares worth more than 10 million euros in the companies they run, while another 12 own 1 to 10 million euros in stock, according to the data centralised by ZIARUL FINANCIAR.
The shareholder-managers on the BSE fall into three categories: managers who are also founders, managers who became shareholders through the employee associations and mangers who either got or bought shares in the companies they run, applying the American model.
Most of these managers enjoyed significant increases in the value of their stakes this year, largely due to their decisions.
The richest manager on the Bucharest Stock Exchange is Dan Ioan Popp, chairman and chief executive officer of real estate developer Impact Bucuresti, which owns 30.2% in the company he runs, a stake appraised at 87 million euros. The value of the shares held by Popp has increased by about 35 million euros since the beginning of the year, as Impact shares surged 62% during this interval. Carmen Sandulescu, chief financial officer of Impact, saw her shares go up too, with the 11.3% stake she owns in the company going up by 13 million euros to 32 million euros.
The increase in the Impact shares was mainly due to the increase in the real estate assets the company holds, which is particularly true about its plots of land. Still, the change in the company's strategy made a difference to a certain extent, as it turned from a construction company into a real estate developer of large projects, which generated a lot of interest in Impact among foreign investment funds.
Another manager to have gained on the Bucharest Stock Exchange this year is Michail Sotiriou, the general manager of the aluminium profile maker Alumil Rom Industry.
The listing of Alumil on the Bucharest Stock Exchange, following a public offe
