At the meeting of the National Corporate Governance Commission held on June 2, 2011 at BSE–Sofia AD, due to the expiry of the mandate of the present Chairman of the Commission, Mr Ognyan Donev, election of a new Chairman, enjoying a one year mandate, was held.

The attending members unanimously elected Mr Manyo Moravenov, Chairman of the Board of Directors and Executive Director of FairPlay Properties REIT, as Commission Chairman.

Mr Moravenov holds a PhD degree in finance awarded by the Sofia University, enjoys extensive professional experience in the field of capital markets, and is one of the authors of the National Corporate Governance Code as well.

At the aforesaid meeting, a proposal submitted by BSE-Sofia AD on amending the rules of calculating the index of the companies having good corporate governance was also discussed in principle.

The Exchange has undertaken to draw up a draft of the specific texts of the rules and to submit these in order to be approved on the next session of the Commission to be held in the month of July. The index basis and the initial date for its calculation is also to be set at the said meeting.

source: NCGC