The Board of Directors of the natural gas producer Romgaz Mediaş (SNG) appointed Andrei Bobar as the company economic director for determined period, namely 28 August 2018 – 2 November 2021, the issuer shows in a report sent to Bucharest Stock Exchange (BVB).

“Also the Board of Directors approved the Mandate Contract of the Economic Director, contract that was subsequently signed by both parties”, says the press release.

On July 27, 2018, the Directors Board of Romgaz had appointed Andrei Bobar in the same position for a period of four months, but he refused, at the moment, the mandate given by the management of the natural gas producer.

Andrei Bobar joined the company in October 2016, on the position of Financial Department Director.

Bobar also worked for Romgaz between 2013 and 2014 as Head of Financial Reporting and Accounting Methodology, and later as Economic Director at Amromco Energy Company.

In the first semester of this year, Romgaz achieved a net profit of 797.7 million lei, by 10.1% lower than in the same period of the previous year, when it posted a profit of 887.5 million lei, while the company’s turnover increased by 3%, to 2.474 billion lei, from 2.392 billion lei.

The majority shareholder is the Romanian state which, through the Energy Ministry, owns 70% of the shares.

The present company market value at BVB is about 12.68 billion lei.