Yes, the Council of Wise Men…

Author: Angela Ene

Success stories, which tell of Shareholders who sold their companies at maximum price and at the perfect time, are very many in Romania.

We regard these Shareholders as wise men, “Gurus”, who did what they were supposed to do when they were supposed to do it.

But did the idea of selling the company at the right time come to them overnight?

Did they have flair and become very rich overnight?

Did the shareholders take these decisions by themselves?

“There are no quick wins in business – it takes years to become an overnight success”,

says Richard Branson.

A successful sale of a company means a successful strategy, successful capital increases, a successful management, a successful Board of Directors and successful Shareholders.

In December 1999, the investment funds did at Terapia Cluj Napoca what many in the market said it was “madness”: they changed the decision-making power. A Board of Directors consisting of 11 members was replaced by a New Board consisting of 5 members. After 4 months, in April 2000, the New Board changed the management after a 1-year preparation and planning.

I was the representative of the minority shareholders in the Board of Directors between April and December 1999. Afterwards I was a member of the New Board of Directors.

With a New Board of Directors which assumed the role of LEADER and with an almost completely renewed professional top management team, Terapia Cluj Napoca moved to a new stage of its “life”, which helped it become what it is now.

Marius Chereches, founding member of the Independent Directors Association, played a key role at that time, being one of the top managers.

Yes, the Board of Directors assumed its role of LEADER with much responsibility and professionalism, and the results appeared.

Wisdom came from the teamwork of the Shareholders – the Board of Directors – the Management & the Employees, from planning and know-how… a lot of it.

October 2015