Daniel Daianu Quit BCR Supervisory Board

Daniel Daianu, member of the Supervisory Board of Romania’s largest lender Banca Comerciala Romana (BCR), resigned his position to avoid controversy following his election to represent Romanian liberals in the European Parliament.

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"I took the less risky path. Why rock the boat?" Daianu told MEDIAFAX Tuesday.

He said the position of board member was not incompatible with his MEP position, but nonetheless, he submitted his resignation before Christmas.

At the November 25 elections, Daianu was elected member of the European Parliament representing the Liberal Party, or PNL.

A former minister of finance, Daianu was designated Chairman of BCR’s Supervisory Board in September 2005, and accepted to remain a board member after the bank was taken over by Austria’s Erste Bank.

BCR’s Supervisory Board includes seven members, of which five positions are available to the majority holder, Erste Bank, and two positions are to be filled by representatives of Romania’s five regional investment funds SIFs. The Board currently includes only Erste representatives as the SIFs have yet to reach an agreement on who their representatives should be.

The Board is headed by Erste Bank CEO Andreas Treichl, and includes Peter Kisbendek (Board vice-president), Herbert Juranek (member) and Bernhard Spalt (member).

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