The commotion around the replacement of the Board of the Exchange in late December and in early January, the statements such as "there is a need for change!, "the other guys were bad, we are good!", "we will outdo everyone!" have been replaced by... silence.
Sshhh!
They must be hard at work!
On Monday, the new president Lucian Anghel presented the strategy of the Bucharest Stock Exchange until 2015, drawn up by his team, in the first session of the Board of Directors, held until February 9th, 2012.
It took a month to hold that crucial session.
The CNVM did not drag its feet; according to Lucian Anghel, the CNVM behaved exemplarily, and validated the new Board of Directors within 48 hours after their paperwork was submitted.
It took them a month to hold the first meeting of the Board, but it happened eventually! The Board set a new strategy, but there was a new hurdle... There is no one to implement it, because the Stock Exchange hasn't had a general manager since November... The strategy does not mention any concrete objectives, precisely for that reason... They need to be set in cooperation with the new CEO.
Ever since last year, the press has wondered who is going to replace Valentin Ionescu, who was fired in November, with the claim that he had failed to meet his contractual targets. Various scenarios were made, but the most plausible alternative was that the BSE would hire a headhunting firm to find a manager for it.
* The elections of the Bucharest Stock Exchange
On Monday, the Board of the Exchange has confirmed that it has decided (also in its first meeting) to go to a headhunting firm.
But this is where the hard part starts.
The directors have some crucial choices to make.
First of all, the BSE will need to hold an election to choose the executive search company.
Oops! First th
