At a press conference in Bucharest yesterday, Mr. Teodor Ancuţa, the founding Chairman and CEO of SIBEX -Sibiu Stock Exchange, announced that he intends to retire as CEO after the next General Shareholders Meeting in April 29th.
Patrick L. Young, the author of "Capital Market Revolution" and a leading expert in exchanges, will succeed Mr. Ancuta as CEO who will remain as Chairman of The Board.
Mr. Teodor Ancuţa said “After 16 years dedicated entirely to Sibiu Stock Exchange, I have decided to retire as a CEO. After I built a stock exchange that has all the segments it needs (spot market, MTF and derivatives) it’s time to move on to another phase. My successor will be Mr. Patrick L Young, an expert of the financial markets, who has over 20 years of experience in developing stock exchanges around the world. He worked with the biggest names in this industry, such as London International Financial Futures and Options Exchange (LIFFE), Chicago Mercantile Exchange and Eurex, and I am convinced that he’s the perfect person to continue my work and lead Sibex to the top of the world stock exchanges. Having Mr. Patrick Young among us, it is an honour and a guarantee of success, for me, the shareholders and the entire Sibex team”.
"It is a privilege and an honour to be nominated as CEO of SIBEX, an exchange which I have long admired as a remarkable success story amongst the exchanges of the "New Europe" added Patrick L Young.”I am excited at the opportunity of taking SIBEX forward with the support of Mr. Ancuţa and the entire team and delivering shareholder value as well as growth in all our market segments."