Bucharest Stock Exchange (BVB) top executive Stere Farmache was elected on Tuesday President of the Stock Council. Thus, Farmache replaced Septimiu Stoica who had announced his resignation on November 19.

Only one other contender for the job was announced - Cristian Sima.

Stoica announced his resignation on November 19 and proposed Farmache to take over his seat. Stoica said at the time he was displeased with the current attributes of the BVB president. Farmache, aged 51 leads the Bucharest Stock Exchange as general director since 1995.