The Board of Directors of Romgaz decided to revoke Virgil Metea’s mandate as director general. The revocation reasons, as presentedin the press release, are: management deficiencies, lack of compliance and implementation of decisions issued by control and regulation authorities but also by the Board of Directors.
Concurrently, the Board of Directors appointed Corin-Emil Cindrea as interim director general of Romgaz, for a 4 months term. Corin-Emil Cindrea has been working in Romgaz since 1999, and since June 2017 he has been deputy general director.
Romgaz is the winner of 2017 Outstanding Development energynomics Award for Romania’s largest onshore natural gas field discovery in 30 years
The decision of the majority shareholder – the Romanian Government through the Energy Ministry – was expected as, mid-November Virgil Metea was removed from Romgaz BoDs. Besides, as a press release sent by the company to Bucharest Stock Exchange stated, the shareholders also decided not to approve an amendment of the calculation method of the performance indicators weighting factors, as well as the amendment of the Directors Plan in this respect. They also rejected the performance criteria and objectives in conjunction with the Income and Expenditure Budget of S.N.G.N. Romgaz S.A., as approved by Resolution No 5/2016 of the General Meeting of Shareholders.
On June 7th 2017, the Board of Directors approved the renewal of the mandate contract of the General Manager, Virgil Marius Metea, for a period of four years.
Virgil Metea has been, since June 2013, CEO at Romgaz, the largest gas producer in Romania. He was previously general manager of E.ON Gas Distribuție. Virgil Metea graduated from the Institute of Oil and Gas Ploiești and started to work in natural gas business in 1985. In 2002 he was promoted in Distrigaz Nord leading team, initially as Development Director and then as general manager. After its privatization in 2005 to E.ON, Virgil Metea remained in the lead until he took over the management of Romgaz.
In 2016, Virgil Metea won the Executive of the Year Award from energynomics.ro.