Members of the Board of Directors of the (ARB) are no longerallowed to hold more than two consecutive three-year terms, unlikeat present, when there is no cap, according to a draft to modifythe charter of the organisation representing the interests of thebanking community. Radu Ghetea has held the position of ARBpresident since 2000 and his current mandate ends in 2012. Anotherproposal that has to be considered by May 15 by the 41 member banksrelates to raising the number of Board of Directors vice-presidentsfrom three to five. Thus, the board will come to have seven membersvoted by the general assembly of shareholders: the president, thefirst vice-president elected by Board and five vice-presidents.Only the heads of lending institutions will still be able tocandidate, but a new eligibility condition will be to speakRomanian. Another novelty is that should a Board member leave thebank on behalf of which he or she ran for a position with ARB, therespective member can keep the ARB position for one month at most,instead of six as it happens at present.
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