The travails at the Budapest Stock Exchange, effectivbely taken over recently by a group of foreign banks led by HVB, continued at an Extraordinary General Meting (EGM) yesterday as four members of the Board of Directors handed their resignations before the general meeting but three remained in position.
Four members of the Supervisory Board also handed their resignations before the general meeting, so the Supervisory Board can no longer function (only the Chairman remains in situ). Which means the integration of the Budapest Stock and Commodity Exchanges is being postponed.
However, immediately after the EGM the remaining members of the BSE Board of Directors met and elected Attila Szalay-Berzeviczy as the new Chairman of the Board.