These same sources indicated that the current Deputy General Manager of Distrigaz Sud Retele, David Yvonnick, is expected to take over the company’s leadership. Arnaud’s departure has been confirmed by officials of Distrigaz Sud, although these were unable to state who would replace him. Arnaud was appointed to head Distrigaz Sud in May 2005, when Gaz de France took over 30 percent of the utility company from the Romanian state, for €128 million, later subscribing €183 mln for a capital increase to ensure majority share. “The transformation of Distrigaz Sud into a well-performing and competitive company on the new European energy market is the greatest professional accomplishment to date,” said Bernard Arnaud for Business Standard.
Company data shows that during Arnaud’s mandate, the company’s net profit rose some 30-fold by 2007, to RON 182.3 million (€54.6 mln), from RON 6.2 mln (€1.5 mln) in 2004, one year before Distrigaz Sud was privatized, with turnover in that same period rising some 50 percent. The company has announced plans to become an integrated utility supplier of gas and electricity. “Without the involvement of the Romanian management and the ability of the personnel to adapt to new working methods indispensable to this transformation, the modernization plan would not have been feasible. I also benefited from the support of union representatives in terms of our commitment to respect the collective labor contract. The perspective of occupying an important position on the European market acted as a stimulus for us all,” added the Distrigaz General Manager. (T.V.)
