Romania's Ferrari importer names new president Stefano Albarosa to replace health minister nominee

Forza Rossa, the importer of the Ferrari brand in Romania, welcomed Stefano Albarosa as its new president, after the former head Ion Bazac renounced his position following nomination as the country's health minister, according to a company release.

Albarosa is CEO of Italian car dealer Cefin Holding and shareholder of the Ferrari unit in Romania.

Forza Rossa has been selling Ferraris in Romania since April 2007 and is majority owned by Ion Bazac, with 47.5 percent of shares and the European Finance center in Luxembourg with the same participation.

The company reported a turnover of 6 million euros this year, double over the initial estimates made in May and sees the business at 10 million euros in 2009.

The new government, made up of right-centrist Liberal Democrat Party (PD-L) and leftist Social Democrat Party (PSD) plus the Conservative Party (PC) and headed by PD-L leader Emil Boc, is pending the Parliament's vote of confidence next week after announcing ministers at the end of last week.

PSD member Ion Bazac was nominated for the health minister position and received the okay of the commission of the newly elect Parliament on December 20.

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