Hidroelectrica has announced the resumption of the selection procedure for the positions of general director and financial director

Hidroelectrica, the largest producer of electricity in Romania, has announced the resumption of the selection procedure for the positions of general director (CEO) and financial director (CFO) after a previous failure. The new selection could be completed in a maximum of two months and 10 days, and candidates have until April 20 to submit their applications.

The state-controlled company has published the requirements for candidates, which include university studies, relevant professional experience, and language skills. The procedure was resumed after, in November, no candidate met the necessary conditions, which affected the fulfillment of obligations under the National Recovery and Resilience Plan (PNRR).

The appointment of directors is essential for unlocking European funds, and Hidroelectrica has been mentioned as an exception in the report on the corporate governance of state-owned companies. The European Commission will assess the fulfillment of milestones and will decide on any potential financial penalties.