Romania’s Government launched the selection process for a new CEO of the state-owned airline Tarom at the beginning of this month, according to an official document cited by local Profit.ro.

The new manager should reorganize the company and bring it to profit.

The selection procedure was initiated after the former Tarom CEO Christian Heinzmann was removed from office over one month ago at the pressure of the Transport Ministry. The Transport Minister accused Heinzmann of lack of interest and responsibility.

Tarom couldn’t stick to the budget plan approved for 2014 and 2015. It recorded losses of EUR 9.1 million last year, although the budget estimated losses of only EUR 1.8 million.

The state has a stake of 97% in Tarom.

editor@romania-insider.com