The Electrica SA Board of Directors and CEO Dan Cătălin Stancu agreed to terminate the collaboration starting November 1st, 2018.
“The entire Board of Directors expresses full gratitude to Cătălin Stancu for his contribution to Electrica’s management,” said Elena Doina Dascălu, chairman of the Board of Electrica SA. “During his tenure, Catalin initiated significant changes that improved processes and working methods, generating performance for the future. He was a valuable person for Electrica in this challenging period. We want Catalin to be very successful in his future projects. ”
Cătălin Stancu said: “It was a privilege to lead Electrica during this transformation period. It was especially important to me, given that I had previously had a long history in the company, and therefore I strongly identified with it. I am convinced that we have taken many steps for the development and modernization of Electrica, confirmed by the current financial results. I wish the company to grow in the future. ”
The Board of Directors will immediately begin a transparent recruitment process through the Nomination and Remuneration Committee to select a successor. In order to ensure continuity, the Council appointed Mrs. Georgeta Corina Popescu as interim General Manager for a period of one year or until the appointment of a new General Manager. Mrs. Georgeta Corina Popescu is currently the General Manager of Muntenia Nord Electricity Distribution Company, part of Electrica Group.
The news came four days after Arielle Malard de Rothschild announced that she is leaving Electrica’s Board of Directors, due to additional responsibilities related to her core business.