Mark Mobius, the head of emerging markets department with Franklin Templeton, could become a member of Petrom’s supervising council, representing Proprietatea Fund in the oil company’s council. The proposal will be debated in Petrom’s general shareholder in meeting in April. Mobius would replace Romanian Daniel Costea.
Fondul Proprietatea owns 20 percent of Petrom and Franklin Templeton has recently signed the management contract to administrate the fund.
Read Mark Mobius blog here.