American Chamber of Commerce in Romania

The American Chamber of Commerce in Romania (AmCham Romania) launched its Code of Corporate Governance during a special event on July 8, 2010, being one of the first organizations in Romania to present to its members a set of corporate governance principles, even to companies not listed to stock exchange. Elaborating a Code of Corporate Governance is part of AmCham Romania’s effort of providing its members access to the expertise of other members, and of promoting a healthy business climate in Romania.

"Good Corporate Governance is a must have for any market economy that wants to attract investors and minimize costs of raising capital. Transparency is not just a buzz word that can be spoken but not lived. A serious organization must govern itself in a way that meets expected ethical standards. The AmCham Code of (good) Corporate Governance is a clearly written and practical guide for any company to use to show its commitment to best practice. As an additional benefit, we hope this material will serve not only for the private sector, but also as inspiration for public governance” stated Bill Bowman, the Chairman of the AmCham Corporate Governance Committee.

The Code of Corporate Governance was prepared by a dedicated AmCham Romania working group, with the purpose of supporting member companies in managing their business, in their interaction with various entities as well as in setting best practices in supervision and reporting. The Code covers the principles provided by the Company Law, but also introduces new recommendations for situations where the law is silent or unclear.

Key speakers included AmCham Romania representatives: Sorin Mîndruþescu, President (Country Manager – Oracle Romania), Bill Bowman, Corporate Governance Committee Chair (Deputy Senior Partner – KPMG Romania) Mihai Tudor, ICT Committee Chair (General Manager - IBM Romania) , and Anda Todor, the previous leader of the Corporate Governance Committee ( Managing Partner – Salans), as well as authors of the Code.

The special guest of the launching event was Mr. Karel J. Noordzy, General Manager of SUA Fortier Mgt BV, Netherlands, and Board Member of Global Caux Roundtable who emphasized the benefits for companies generated by aligning to corporate governance principles. Mr. Noordzy’s participation was facilitated by the Post Privatization Foundation, the event’s partner.

The American Chamber of Commerce will provide the Code of Corporate Governance to its members and will recommend the observance of its principles, without imposing it.
AmCham Romania promotes responsible business behaviour, and with the launching of this Code of Corporate Governance it will offer its members a valuable tool for turning this objective into practice.







The American Chamber of Commerce in Romania (AmCham Romania) is one of the leading professional business organizations in Romania with a significant contribution as partner of the central authorities in elaborating legislation and directives impacting the business environment in our country.
During its 17 years of activity, AmCham Romania remained firmly engaged in facilitating an open dialogue between the authorities and the business community it represents.

AmCham members’ expertise is provided to the authorities through the working groups dedicated to areas such as taxation, healthcare, energy, environment, competition, information technology and communications, labour market, human resources and education, public procurement, tourism, infrastructure and corporate governance.

AmCham Romania represents more than 300 members – U.S., international and local companies with total investment over 10 billion USD, and more 150.000 jobs created. AmCham Romania is affiliated to the U.S. Chamber of Commerce and a member of the European Council of American Chambers of Commerce.

AmCham Romania militates for a stable, transparent, predictable and non-discriminatory business environment, and for increasing Romania’s economic competitiveness both at a regional and European level.

Post-Privatization Foundation (FPP) is the first Romanian foundation devoted solely to entrepreneurship. Created in 1996 by the European Commission, FPP is a private organization that promotes entrepreneurial education and supports initiatives aimed at the sustainable development of the Romanian business environment through its programs on entrepreneurial development, improvement of the business environment and promotion of business social responsibility. FPP pays special attention to business ethics and supports the adoption of a transparent, responsible and ethical way of doing business.

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Contact person for details
Andreea Roman, Communication Manager
T: 021 312 48 34, 031 22 62 426
E: aroman@amcham.ro