Finance Minister Moves to Sack Top Managers of Bulgarian Stock Exchange

Finance Minister Simeon Djankov has demanded the resignations of top members of the management of the Bulgarian Stock Exchange.

In a proposal to the shareholders of the BSE, Djankov has demanded resignations of Viktor Papazov (Founder and Chairman), Bistra Ilkova (CEO), Andrei Pramov (Member), and Todor Breshkov (Member) from the Board of Directors.

During the upcoming emergency General Assembly of Shareholders fixed for January 20, 2010, as a titular of the institution with a 44% in the share of the Bulgarian Stock Exchange and exercising his right as owner, the Finance Minister is going to endorse the nominations of Lyubomir Boyadzhiev from Benchmark Finance Jsc, Vasil Golemanski – former employee of the Central Depository, and Petko Shishkov from Bulbrokers.

Ivan Takev (CEO) and Asen Yagodin (Member) will remain as part of the Board of Directors of the BSE.

It has already been announced that the Vice-Chairperson of the BSE, Liudmila Elkova, is going to withdraw from the Board.

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