TCI board members will be selected by shareholders: TCI chief

“According to the Trade Act, members of the board of directors of a company are selected by its shareholders and since 80 percent of TCI stocks are being sold on the Tehran Stock Exchange it is only natural that its members of the board of directors are selected by the shareholders,” MCI managing director Saber Feizi said.
He said, however, that since the remaining 20 percent of TCI stocks will remain state-owned, one member of the board is selected by the government who is a government official.
Feizi stressed that according to the Trade Act TCI board of directors must be a minimum of 5 persons.

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