The process will spread over the next 3-4 years and will be structured into four stages. In the first stage, which is estimated to end in fall, Octavian Radu will seek to attract top management in the group’s shareholder structure through an option/share scheme.
“Simultaneously, we will start attracting new partners in the shareholder structure, while the third stage will comprise investment funds and will be initiated in early 2010. The fourth stage will consist in the floatation of each division at the stock market or the sale of certain divisions to strategic investors”, said the owner of RTC.
The process of extending the shareholder structure calls for the creation of a specialized council for each division.
The board will be made up of two members of the family, two directors in the group’s management, two directors from other sectors and three from the division’s operational management.
“The core role of the Board will primarily consist in securing the succession of the operational management, activity oversight as well as approving the strategic development directions, of major investment venues and incentive system of top operational management,” Octavian Radu continued.” Octavian Radu continued.
The businessman said he would remain majority/minority shareholder at the companies that would be listed at the stock market.
“Professionally, as member of the board, I will seek to identify, as I did over the past 20 years, the needs of potential clients, narrowly satisfied in Romania, as well as finding and recruiting talented young people able to develop these businesses. RTC Holding’s structure confers me both corporate freedom and capital to pursue this”, said Octavian Radu.
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