Gabriel Dumitraşcu, replaced at Hidroelectrica

The shareholders of Hidroelectrica yesterday decided to replace Gabriel Dumitraşcu as special administrator of the company, as announced exclusively by BURSA in its June 11th issue. According to sources close to the situation, the company's new special administrator is Bogdan Stănescu, the head of the privatization division of the Ministry of Energy. Mr. Stănescu is also the special administrator of Oltchim, ever since the opening of the insolvency procedure of the plant in 2013.

The replacement of Gabriel Dumitraşcu as special administrator of Hidroelectrica has been already proposed in June, but it was postponed because the shareholders could not reach a consensus, according to our sources.

There are rumors in the market that the replacement of the administrator of Hidroelectrica at this time is not accidental, because minister Andrei Gerea could have replaced Dumitraşcu since last winter, when he took on the energy portfolio. There are voices that claim that the replacement of the special administrator of Hidroelectrica will make room for the people of Gabriel Oprea, the leader of the UNPR, who has not said his last word on our uncertain political scene and about whom it is known that he seeks to dig his claws in deeper into the Romanian energy companies.

Also, apparently the for the position of CEO of Hidroelectrica SA is being readied for Dan Iulius Plaveti, whom it is said that he jumped ship from the PD - the party that "kept" him for a few years as president of the ANRE (the energy market regulator) - to that of the UNPR, a party led by Gabriel Oprea.