EnglishNicolae Iliuta, head of The Legal Department of The Government Secretary General's Office, was elected chairman of The Board of insurance company Asirom late last week. Iliuta denied any conflict of interests: "As director of The Legal Department of The Government Secretary General's Office, my functions are regulated by The Public Servant's Statute, which prevents me from accepting a mandate from a natural person in relation to my official duties. However, as an executive of a company, I execute a mandate entrusted to me by the shareholders, and not one related to my official duties. Consequently, there is to conflict between my two activities."
Dan Barbulescu, a representative of the investment fund Broadhurst (holder of nearly 20% in Asirom), told "Bursa" that he had not participated in the election of the new Board because the cumulative vote rule had not been observed, by way of a reduction of the members of The Board from five to three. He added: "the way in which The Shareholder Meeting was held adds to the train of abuses started by Ioan Niculae, the president of Interagro, which is the majority shareholder in Asirom."
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