Claudiu Constantinescu (Endava Romania) joins the True Leaders Awards online gala

Mihai-Alexandru Cristea 14/12/2020 | 16:53

Claudiu Constantinescu, Regional Manager Central Europe at Endava Romania, joins the True Leaders Awards online gala as a speaker. Together with the other speakers of the event, Constantinescu will present the top of the most profitable and best performing companies in Romania, during the “True Leaders” awards online Gala, a segment which is scheduled to start on December 17, at 16:30 PM.


Claudiu Constantinescu is one of the most experienced leaders in Endava. With a career of more than 26 years in software & technology, he held various management positions in different organizations, where he gathered an impressive project portfolio experience and specialized in evolving organizations to create efficiency. PhD level education (The Academy of Economic Sciences Bucharest), Program Management and Business trainings support his background in software engineering.

Claudiu joined Endava more than eight years ago as Head of Project Management in Bucharest and Delivery Manager for several Accounts, has then led our offices in Bucharest and Pitești, and, since 2018, moved into Regional Management for Central Eastern Europe (covering our delivery units in Bucharest, Brașov, Pitești, Belgrade, Sofia, and Skopje).


The True Leaders Awards 2020 online gala is organized by ICAP Romania in partnership with Business Review.

The 5th edition of TRUE LEADERS AWARDS Gala spotlights healthy entrepreneurship and positive business practices.

On the 17th of December, ICAP Romania will publish the top of the most profitable and best performing companies in Romania, during the True Leaders Awards Online Gala. This year, beside the 4 traditional criteria, being an unprecedented year, ICAP Romania took into consideration a new criterion for evaluating all companies in the most objective way possible.

The awarded companies must simultaneously fulfill the next 4 criteria:

  •  Are part of the most profitable 500 companies in Romania (based on EBITDA at December 2019)
  •  Have the highest EBITDA in their industry
  •  Record an increase or at least the same number of employees as previous year or an increase (after having excluded the ones with less than 10 employees in 2019)
  •  Fall within the A1-B2 Scoring bands (Very Low risk band and Low risk band) and have values greater than 70 for COVID Company Index;

The first step in the selection process is to create a top based on EBITDA, calculated according to December 2019 financial data. State owned companies are excluded from this selection, as well as banks, insurance and non-banking financial institutions.

Out of these 500 companies, the True Leaders awarded companies will be selected.

The industries are formed based on the companies’ main activities. The industry is given by the main NACE code declared by the companies, the NACE division or group of activities. The selection between the NACE division (first two digits of the NACE code), group (first 3 digits of the NACE code) or NACE code is made based on the diversity of activities comprised within the same division.

Scored companies:

  • Have the legal form of a company (examples: S.A., S.R.L., S.C.S.)
  • Companies that do not belong to the following industries: banking, insurance and other related activities, as these companies declare their financial data differently than all other types of corporations
  • Are active companies according to the Trade Registry assigned status


ICAP Score expresses an estimation of a company’s credit quality with respect to the probability of default and/or bankruptcy within a 12-month horizon. This estimation is based on an analysis of commercial, financial and transactional data derived from official sources of the assessed companies.

COVID Company Index denotes the companies’ adjusted creditworthiness assessment over the next 12 months which is triggered as a result of the Covid-19 pandemic and the effects of the lockdown measures and suspensions imposed on economic activity for each evaluated company. Ιt combines the existing assessments on companies’ credit quality, Score and the Covid Sector Index, an industry sector impact assessment, depicting the severity of impact and its recovery potential.

The assessment results are presented in a 0-100 score scale, where score 0 represents companies that have the highest probability of default, and 100 represents companies with the lowest probability of default.

COVID Sector Index expresses the current assessment on the effects of the lockdown measures and suspensions, imposed on economic activity as a result of the COVID-19 pandemic, per activity sector, taking into account the likelihood of recovery, within a 12-month horizon.

Romania is a member of the group of companies, the most important business intelligence group in South-Eastern Europe and the only company in Romania accredited by the European Securities and Markets Authority as a “Credit Rating Agency”.

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