The Ministry of Economy has started recruitment for private managers under EEO 109/2011 for companies Transelectrica and CupruMin, shows an institution’s response to a request sent by Hotnews.ro.

Ministry seeks two members to the Supervisory Board at Transelectrica and five members for the Board of Directors at CupruMin. In early March will be established consortia of companies that will carry out the selection of candidates for these posts and for posts available in other three state companies (Plafar SA, SN Sare SA, SN Apele Române SA).

By the end of June, 13 state companies coordinate by the Ministry of Economy will have private managers, shows the ministry’s response.

Until 25 February, the Ministry of Economy has left for public debate the corporate governance principles in state companies. Among the rules, conditions and criteria for selection of private managers, the document mentions that in the GSM (General Shareholders Meeting) will be appointed maximum two state representatives, but without payment.

Secretaries of state cannot have more than two administrator mandates concurrently, and ca not be chairmen of boards, shows the proposal of the Ministry of Economy. Boards of Directors would be formed in their majority by non-executive and independent administrators, and they should publish an annual report on the achievement of performance indicators.