The Board of Directors of Electrica SA and General Manager Cătălin Stancu agreed to terminate their collaboration starting with November 1, 2018, the company announced in a press release. The Board of Directors will immediately begin “a transparent recruitment process through the Nomination and Remuneration Committee” to select a successor. In order to ensure continuity, the Council has appointed Corina Popescu as interim Chief Executive Officer of the Group. Since June 2018, she is Managing Director of SDEE Muntenia Nord.

In the press release, Cătălin Stancu is quoted as saying: „It was a privilege to lead Electrica during this transformation period. It was especially important to me, given that I had previously had a long history in the company, and therefore I strongly identified with it. I am convinced that we have taken many steps for the development and modernization of Electrica, confirmed by the current financial results. I wish the company to grow in the future.”

The decision of Cătălin Stancu is a surprise and it comes a few days after one of the most renowned members of the Board of Directors Arielle Malard de Rothschild decided to give up this position, which she has been occupying since 2014.

On the other hand, Corina Popescu is a top executive with an impressive experience in the field of electricity and natural gas. Since June 1, 2018, Ms. Popescu holds the position of General Manager of the power distribution company Muntenia Nord, part of the Electrica Group.