Thus, the manager’s mandate will not be extended after its four-year duration.
Catalina Popa has been working at Electrica since 2017 and previously worked for 10 years at E.ON.
Electrica is valued by investors on the Bucharest Stock Exchange at RON3.4 billion capitalization, and the largest shareholder is the Romanian government, through the Ministry of Energy, with a 48.8% stake.
Electrica’s shares are down 19% since the beginning of the year, amid transactions of RON211 million, Bucharest Stock Exchange data show.
The company ended the first nine months of 2021 with a net profit of RON396 million at group level, up 146% compared with the same period last year. Thus, on the back of increased revenue in the supply and distribution segments, Electrica increased its revenue by 4% to about RON4.8 billion.
(English version by Loredana Fratila-Cristescu)