"The Administration Council of Impact Developer & Contractor, gathered at the meeting from 20th of May 2013, decided the termination of the general manager mandate, through the agreement of the parties, and the dismissal of Mr Stefan Gheorghiu-Milicin from the position of general manager, starting with 20th of May 2013", a company report for the Stock showed, cited by Mediafax.

Stefan Gheorghiu-Milicin was appointed as general manager of the real estate developer at the end of September 2012.

He is the managing partner of a consultancy company and occupied leading positions in companies such as the real estate developer Willbrook International or the real estate consultant Colliers International.

The revenues of the real estate developer doubled in the first quarter, from 2.8 million lei to 5.6 million lei, but the company registered losses from 4.3 million lei to 5.5 million lei.

The businessman Gheorghe Iaciu, the owner of Doraly commercial centre and the biggest shareholder of SIF Muntenia (SIF4), became the biggest shareholder of Impact, buying in March 2013 23.22% of the company shares with EUR 1.4 million. The shares were bought by a special selling ordered transaction, through which The Associated Judicial Executers Office Lex sold the package of 26.13% of the shares of Impact Developer & Contractor owned by the founder of the real estate developer Dan Ioan Popp and by Carmen Sandulescu, one of the company’s developers. The package included Popp share (16.48%) and Sandulescu’s share (9.65%).

The shareholders include the investment management company East Capital, which holds through the company Salink Limited, from Cyprus, a package of 10.1% and  Adrian Andrici, with 10.69%. (sursa: wall-street.ro)