Electrica S.A. Group has a new Board of Directors after the General Meeting of Shareholders on Monday. The new Board is composed of seven members, four of whom are non-executive and independent.
“From my point of view, Electrica SA General Shareholders Meeting today elected a Board of Directors very balanced, which ensures premises for continuity in decision-making. We have four Romanian members and three foreigners, we have members of the former Board of Directors, who were re-elected and, most importantly, we have a Board of Directors composed of professionals with extensive experience, both nationally and internationally. I wish them good luck and I’m sure Electrica will continue on the path of reform and good corporate governance while maintaining at the same time the commitments made in the IPO prospectus”, said Ioan Roșca, General Manager at Electrica SA.
The new Board has as members Arielle Malard de Rothschild, Michael Boersma, Cristian Bușu, Ioana Alina Drăgan, Corina Popescu, Bogdan Iliescu and Pedro Alvarez.
Board members professional biography
Arielle Malard de Rothschild is the founder of the Emerging Markets Division at Rothschild & CIE Investment Bank and is managing director and vice president for Eastern Europe at Rothschild & CIE, and Chairman of the Board for CARE France. She worked for the World Bank and for Lazard, as well as in consulting on financial problems in Eastern Europe and North Africa. It has a doctorate in international economics at the Institute of Political Sciences in Paris, specializing in mergers and acquisitions. She has experience in major privatizations in Romania, Poland, Russia, Hungary and Morocco. Since September 2014, she was a member of the Board at Electrica SA.
Cristian Bușu is from 2011 lecturer at the Academy of Economic Studies in Bucharest, deploying numerous teaching initiatives. He is currently Secretary of State in the Ministry of Energy. He served as director at the central branch of Marfin Bank in Bucharest. Between 2009 and 2013 he served as financial director for Fondul Proprietatea and member of the Committee of Representatives. Earlier he was, for four years, economic adviser to the Economic Department of the Romanian Government. Between 2000 and 2005 he worked for Prudential Financial, New York, as a financial planner/broker. Since September 2014, he was a Board member at Electrica SA.
Ioana Alina Drăgan has built her professional experience both in private companies such as Siemens Romania, BRD-Groupe Societe Generale, but also in the public sector, ie the Ministry of Energy. She specialized in four areas of finance: banking, securities, treasury and financing. Since November 2015, she was an interim Board member at Electrica SA. Previously, she was a member of the Board at Nuclearelectrica. Currently, she is working in the Ministry of Energy, as Head of the General Directorate of Privatization and Administration of State Ownership in Energy. She has a degree in economics, graduated the Faculty of Finance, Insurance, Banking and Stock Markets at ASE Bucharest. She graduated WU Energy Expert program of the Vienna University of Economics and Business.
Corina Georgeta Popescu is a State Secretary at the Ministry of Energy. With extensive experience in energy, she led the Operations Department at Electrica SA, was director for Bucharest Branch of OMV Trading GmbH Vienna Austria and Coordinator of Power Assets at OMV Petrom. She has also been Director of Energy Market Regulation and Supervision in E.ON Romania and Head of Power Purchasing for E.ON Moldova. She is a member of the International Council on Large Electric Systems, Study Committee “Island Cables” (CIGRE), the Association of Electricity Suppliers in Romania (AFFER) and Romanian National Committee of World Energy Council (CNR-CME). She graduated from the Faculty of Energy at the Polytechnic University of Bucharest and obtained certification in management from The Open University.
Michael Adriaan Maria Boersma is a senior consultant, president and Board member of various companies, foundations, institutions and consultative bodies. He was elected to the Board of companies in the Netherlands, USA, Germany and Finland. Between 2003 and 2009, he was CEO and Chairman of Essent, the largest integrated utility company in the Netherlands. Michael Adriaan Maria Boersma was, in 2003, President of Shell Global Solutions. He teaches corporate governance at the University TIAS in the Netherlands. Since September 2014, he was a Board member at Electrica SA.
Bogdan George Iliescu has extensive experience in investment banking and also as non-executive independent administrator at one of the ten largest companies in Romania. Since 2014, he holds the position of executive director of BRD – Groupe Societe Generale Corporate Finance Department. He was involved in consulting assignments for the Romanian state regarding privatizations and carried on buying initiatives for international corporations. He was a member of the team of consultants for mergers and acquisitions at BRD who worked for the World Bank’s privatization program in Romania (PSAL). He graduated from the Academy of Economic Studies in Bucharest and holds a Master’s degree in management. He has a solid knowledge and extensive experience in finance, banking, mergers and acquisitions, privatizations and capital markets, strategic advisory and restructuring.
Pedro Mielgo Alvarez has developed his career in the energy sector (oil, gas and electricity), engineering and international trade. He has a very rich experience related to regulated activities in energy (electricity transmission and gas distribution), with greater involvement in the reform processes of major companies, but also on regulatory issues. Over the years, he has held executive and non-executive position in very large companies, among them being President and CEO of Red Electrica Spain and non-executive Chairman in Madrilena Red de Gas (from 2011 to present). He graduated the Polytechnic University of Madrid and followed several specializations, including at Stanford University.