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Government’s intent letter to the IMF: the selection of new state company manages will start in August 

de A.C.
Joi, 30 iunie 2011, 12:24 English | Top News

The government committed to cease any extension of management contracts at state owned companies after January 1, 2012 and the selection will be international, as exclusively wrote. The intent letter of the government reads that not just CEO positions will be out on the market but also the positions of financial directors. The new managers will have the liberty to operate the modifications they will see fit.  

Moreover, members of the administration councils will be carefully selected and checked by independent experts, to ensure that they are fully qualified to exercise their attributions. The 154 state owned companies monitored in the agreement will lay off 7,000 employees by September 2011, the document reads.  

The biggest number of lay offs will be made by railway companies, CFR Marfa with 3000 positions, CFR SA with 1,500 positions and CFR Calatori with 1,000 positions.

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