Bulgarian Development Bank's New Executive Board Assumes Office

Prof. Nikolay Nenovski, Denitsa Kirilova and Emil Karanikolov will be the three new members of the Supervisory Board of the Bulgarian Bank for Development JSC.

The three, who were elected at a regular general assembly of the bank's shareholders earlier this month, will replace Diana Dragneva-Ivanova, Rumen Porozhanov and Stefan Belchev, who held the position last year.

The changes are in force as of July 17 with the new members' inscription in the trade register, the bank reports.

Prof. Nikolay Nenovski is one of the most respected Bulgarian macro-economists with many research publications in the fields of monetary policy and international finance.

He was a member of the Governing Council of the Bulgarian National Bank (BNB) and in the last year he taught at the university of Amiens in France.

Denitsa Kirilova has long and proven experience as a leader in the public sector.

Currently she is the Finance Minister's Chief of Staff. Before that she used to work for 12 years in the Financial Supervision Commission in the field of investment supervision.

Emil Karanikolov is a lawyer and has rich experience in restructuring public companies.

He was jurisconsult at the Sofia Municipality and in 2010 he headed the Privatization and Post-Privatization Control Agency.

The Minister of Finance exercises the capital rights of the state in the Bulgarian Bank for Development (with a 99.99% share).