Pedersen & Partners and its subcontractors, Berger Strategy Consultants and Nestor Nestor Diculescu Kingston Petersen, said in a press release that the contract was terminated because the ministry decided to change the headhunting process.
Last year, a consortium led by Pedersen & Partners won a contract to recruit private managers for several state-owned companies, among which postal company Posta Romana, airline Tarom, freight railway carrier CFR Marfa and hydropower producer Hidroelectrica. The contract was signed in October 2011.
Under standing agreements with the International Monetary Fund and the European Commission, Romanian authorities need to appoint private management at multiple state companies.