Aurel Cocioran was promoted to director of the company’s development-retechnologization department and Daniela Iordanescu was appointed retechnologization director, a position previously held by Cocioran.
Cocioran is one of the few Hidroelectrica managers who have been either kept or promoted within the company following a recruitment contest organized by the local branch of Dutch executive search firm Pedersen&Partners in 2013, Euro Insol said in a statement.
Iordanescu had filled the position of executive business manager at Litostroj Power Slovenia (formerly known as SKODA) until April 30, one of the largest hydro energy equipment manufacturers, according to Euro Insol.
Hidrolectrica, Romania’s largest electricity producer, has 80.05% of its shares in the hands of the Energy Department, while investment fund Fondul Proprietatea holds a 19.95% stake.
The power company was placed under insolvency in late February, after the Bucharest Appellate Court cancelled a previous court decision allowing the Hidroelectrica to complete a 12-month reorganization process started in June 2012. Following the decision, insolvency company Euro Insol was reinstated as Hidroelectrica’s judicial administrator.
Hidroelectrica runs units with a total installed capacity of 6,400 megawatts and covers around 30% of Romania’s power consumption.