The current General Manager of supply and distribution group Electrica S.A., Ioan Roșca, will leave the company at the latest by June 2016, after having reached a mutual agreement with the administrators of the group, according to a document published by Electrica S.A. on the Bucharest Stock Exchange (BVB).

The Nomination and Remuneration Committee of Electrica will start and conduct the selection of a new CEO. The group administrators proposed the selection and recruitment of a new CEO within two months.

Ioan Roșca was the CEO of the company Electrica S.A. from the second half of 2012 and was reconfirmed earlier this year.

In the first part of February, another member of the Board at Electrica S.A., Michael Boersma, has decided to give up this position from the 1st May 2016. Michael Boersma was a member of the Board of Directors at Electrica S.A. since September 2014.