Dumitru Chiriţă - named president of Electrica

The Board of Directors of Electrica appointed Dumitru Chiriţă, former president of the Energy Regulatory Authority, as president of the company until the end of the year, according to a report of the supplier and distributor of electricity published, yesterday, on the website of the Stock Exchange Bucharest Stock Exchange (BVB).

Also, the Board of Directors of Electrica decided to establish two vice-president positions, in which Dragoş Valentin Neacşu and Adrian Florin Lotrean were appointed, starting on February 12, 2024 and ending on December 31, 2024. The Board also decided the composition of the advisory committees until the end of the year. The Audit and Risk Committee is composed of the president Valentina Elena Siclovan and the members Adrian Florin Lotrean and Ion-Cosmin Petrescu. The Nomination and Remuneration Committee is formed by the president Adrian Florin Lotrean and the members Marian Cristian Mocanu and Ion Cosmin Petrescu. Marian Cristian Mocanu was appointed as president of the Strategy and Corporate Governance Committee, and Dumitru Chiriţă and Dragoş Valentin Neacşu were appointed as members. The Climate Governance and Public Policies Committee is composed of the president Dragoş Valentin Neacşu and the members Valentina Elena Siclovan and Georgiana Bogasievici.

The Board of Directors of Electrica, elected at the end of January for a period of four years, is composed of Ion Cosmin Petrescu, Dumitru Chiriţă, Georgiana Bogasievici, Dragoş Valentin Neacşu, Adrian Florin Lotrean, Marian Cristian Mocanu and Valentina Elena Siclovan. Dumitru Chiriţă had been proposed for a seat on the Electrica board by the Ministry of Energy, the main shareholder of the company.

For the first nine months of last year, the electricity supplier and distributor had operating revenues of 9.89 billion lei, 3.2% below those of the first three quarters of 2022, while the net profit amounted to 418 3 million lei, down by 21.6%, for the same reporting period. The Romanian State, through the Ministry of Energy, owns 48.8% of Electrica, a company whose stock market valuation is around 4.1 billion lei.