Electrica changes management

The CFO, Constantin Chivulescu, was replaced by Maria Spandonide, while the technical manager, Tudor Serban, was replaced by Dumitru Federenciuc. Both new managers come from Electrica branches, while the new human resources manager, Dan Ioan Bratean, came from another company.

Chivulescu chose the CFO at Electrica Bio-heat, a recently established company by Electrica (50 percent) and Austrian Warmebetriebe company (50 percent). Chivulescu said he received other offers, but Electrica wanted him to stay inside the company.

The company posted net profit worth €352,9 million in H1 2008, some ten times higher year-on-year, and turnover worth €888.3 million.