According to Franklin Templeton, the manager selection was faulty as not all candidates were interviewed.
Ciurel, the general manager of Complexul Energetic Oltenia, was named Monday the company’s private manager to a four-year term.
Franklin Templeton said Ciurel’s appointment breaches the provisions of Government Emergency Ordinance 109/2011 on corporate governance in state-owned companies, which state that manager selection must be transparent and nondiscriminatory. It added that private managers at large state-owned companies should be named by independent councils.
The shortlist proposed by executive search company Kienbaum included alongside Ciurel several other Romanian and foreign candidates. The Supervisory Council named Ciurel as private manager without interviewing the other candidates, argued Franklin Templeton.
Romania pledged in negotiations with the International Monetary Fund to name private managers at several state companies.