Romania publishes plan to cut board members in state-owned companies and their pay

The General Secretariat of the Romanian Government (SGG) has published for public consultations the draft law for the reform of the state-owned enterprises and the so-called autonomous institutions, such as the regulators for the financial, energy, and telecom markets (ASF, ANRE, and ANCOM, respectively), according to Cursdeguvernare.ro and Profit.ro.

The number of board members is capped to 3 or 5 (depending on the size and management structure of the entity), their bonuses are capped to two average gross wages, and the personnel in market regulators will be cut by 10% for expert roles and 30% for support personnel.