Romanian Banca Transilvania CEO Resigns

The bank’s board, convened on January 19, acknowledged the resignation of Robert Rekkers from the positions of CEO and board member. Franklin, who has been a board member since 2010, was appointed as his replacement starting February 1, the lender said in a news release.

Banca Transilvania shares closed down 0.98% Thursday, to RON0.906.

Bank shareholders include the European Bank for Reconstruction and Development – 14.61%, Bank of Cyprus – 9.7% and the bank chairman, Horia Ciorcila – 4.8%.