Head of state-owned Transelectrica steps down

Adrian Baicusi, general manager of Transelectrica, has steped down yesterday from this position, according to company officials cited by Mediafax. He has been serving as GM of Romania’s state-owned power grid operator since January 2009 when he was appointed by Adriean Videanu, Economy Minister at that time. Previously, Baicusi was the CEO of Siemens Romania.

Romanian Economy Ministry owns 73.6 percent in Transelectrica, while investment fund Fondul Proprietatea holds a 13.5 percent stake. Another 12.81 percent of the company’s shares are traded on the Bucharest Stock Exchange where yesterday, Transelectrica (TEL.RO) shares closed flat at RON 17.8 a share.

Simona Bazavan

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