Romanian state companies Nuclearelectrica, Hidroelectrica, CFR to have private management

As many as 15 Romanian state – owned companies will have private management, including Nuclearelectrica, Hidroelectrica, railways companies CFR Freight, CFR Passengers and CFR Infrastructure. For some of these companies, the members of the board will also be replaced, according to Jeffrey Franks, head of the International Monetary Fund (IMF) mission for Romania, quoted by Mediafax newswire. “There are some people with privileged positions in some of these companies, but they will loose these positions. […] We will start to select members of the board in a much more objective way. This is one of the areas where we will make changes. ON the other side, the Government will ensure a better legislation, to make these boards operate correctly,” said Franks. Minority share packages in some of these companies will also be directed to private investors, who will also appoint members in the board of administration. editor@romania-insider.com (photo source: Photoxpress.com)