Ovidiu Putura is the new President of CFR's Board. Two of the new members resigned.

Secretary of State at the Romania’s Ministry of Justice, Putura has been elected as President of CFR’s new Board of Directors, which, in its turn, appointed Ionel Voicu (Deputy Director on European Projects) to provisionally replace George Micu as CEO of the railway company until the selection procedure for this position will be eventually finalized, is mentioned in a press release.

On January 10, the General Meeting of Shareholders of CFR decided to dismiss all the members of the Board of Directors due to their mismanagement which affected the company’s financial situation. During the same meeting, there were named new members, as Govnet already informed.

Yet, two of them - Victor Cionga, Managing Partner at AZ Capital Advisors and George Ciobanasu, auditor, resigned. And that, because of a discrepancy between their responsibilities and obligations on one hand, and the financial reward on the other one, as both of them consider that their work would have been undervalued, according to the same source. 

So, the Board of the National Railway Company, controlled by the Ministry of Transport, currently consists of Ovidiu Putura, Ovidiu Artopolescu, Florin Luca, Mircea Popa and Constantin Sebesean, the last two replacing the resigners. They were evaluated and confirmed as members by the counsels consortium comprising of PwC Tax Advisors & Accountants, D&B David and Baias and George Butunoiu Group, the Board being statutory and operates in accordance with law.