Bucharest, 31 May 2023 – Simtel Team (BVB: SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, announces the appointment of Mihai Tudor as Chief Executive Officer at the group level. He is one of Simtel’s Board of Directors members voted by the company’s shareholders at the General Meeting of Shareholders from April 25, 2023
„Mihai’s appointment as CEO reflects the maturity of our company. Simtel is currently at a pivotal stage of accelerated and ambitious growth, and we are pleased to have brought on board an executive with deep expertise, capable of leading teams and managing the strategies necessary to achieve our growth objectives. Over the years, together with the other two co-founders, Sergiu and Radu, we have built this company with great passion and dedication. We will continue to be involved in Simtel’s activity as before, with me as Chairman of the Board and Sergiu and Radu as Board members and as COO and CTO, respectively. We are confident that by bringing Mihai into our team, we will maintain the stability and consistency of Simtel’s development direction. In an increasingly competitive and dynamic industry such as renewable energy, it is important to have a strong management team and a solid corporate governance structure that allows us to evolve and grow sustainably”, stated Iulian Nedea, co-founder and Chairman of the Board of Directors of Simtel Team.
Mihai Tudor is an executive with 20 years of experience in management, motivating and growing teams, resource planning, career plan development, recruitment, and selection of key resources. Mihai Tudor’s career is closely linked to Orange Romania, where he joined the organization after graduating from Politehnica University of Bucharest. Within Orange Romania, he held various roles, the last position before joining Simtel being Strategy, Business Development Program Management Director. As CEO of Simtel Team, Mihai Tudor will be responsible for leading the company and achieving the goals set by the organization in the medium and long term.
„I am honored to join Simtel Team at such an important moment for the company’s development in the Romanian and foreign markets. I thank the members of the Board of Directors for their trust. I am confident that together we will accelerate the company’s sustainable growth and contribute with our innovative solutions to the efforts to create a green and responsible society”, stated Mihai Tudor, CEO and executive member of the Simtel Team Board of Directors.
In the first quarter of 2023, Simtel posted a consolidated turnover of 65.6 million lei, a 579% increase compared to the same period last year, and a net profit of 2.9 million lei, an appreciation of 896%. Simtel Team is listed on the AeRO market of the Bucharest Stock Exchange as of July 2021, currently having a market capitalization of approximately 257 million lei.
About SIMTEL Team
Simtel Team is a Romanian company, founded in 2010 by three Romanian entrepreneurs – Iulian Nedea, Sergiu Bazarciuc, and Radu Vilau. The company is listed on the AeRO market of the Bucharest Stock Exchange under the ticker symbol SMTL and operates in 3 fields of activity – as a solution integrator in telecommunications, renewable energy, and industrial automation. The company has successfully delivered projects in each of these areas to clients both in Romania and abroad. As of October 2021, the company is included in the BVB’s BET-AeRO index. Starting from October 2021, the company is included in the BET-AeRO index of BVB.
