Amsterdam, April 17, 2006--The Rompetrol Group NV (“TRG”) announced today that it had moved to a two-tier management structure and appointed 4 members to its Supervisory Board, which is to meet monthly, and has as its members:
• Rob Boelen, former senior partner of Deloitte & Touche in The Netherlands
• Dan Pascariu, Chairman & CEO of HVB Bank in Romania
• Philip Stephenson, formerly TRG Managing Director in The Netherlands
• Ion Sturza, businessman and former Prime Minister of Moldova
The Supervisory Board’s meetings will be held in conjunction with the Managing Directors of TRG, which are comprised of:
• Dinu Patriciu, Chairman & CEO
• Andre Naniche, COO
• Alex Bucsa, CFO
• Dan Ionescu (new appointment), SVP Trading Noting that a majority of the Supervisory Board members were independent, CEO Dinu Patriciu stated, “We have been planning this move for some time. It is part of an overall corporate restructuring designed to further raise our level of corporate governance and increase the efficiency of our Group management. This is in process both at the Dutch holding company level and at the level of our subsidiaries and branches in all 12 countries we operate in.”
Board member Ion Sturza added, “I have worked with TRG and its owners for almost five years now and consider them one of the best known and operated companies in the region. We hope the diversity of experience of the Supervisory Board – in law, banking, accounting and politics – will help guide the Managing Directors in making the right decisions regarding key matters of strategy, major transactions and personnel.”