Stanculescu will fill in the general manager position until Euro Insol appoints a new manager, the state-owned company said in a statement Monday.
The former general manager of Hidroelectrica, Stefan Gheorghe, was named late last week as head of state-owned power grid operator Transelectrica (TEL.RO).
January 16, Euro Insol has dissolved 22 management positions with Hidroelectrica, while the remaining 57 managers are designated on a 90-day period, until filling in the positions by contest, as part of a reorganization program aimed at cutting costs.
The manager selection process will be performed following contests held by Euro Insol and head hunting companies Egon Zehnder International, Adecco and Pedersen&Partners.
Hidrolectrica, Romania’s top energy producer, has filed for insolvency in June last year and is currently undergoing reorganization. According to Borza, Hidrolectrica will complete its reorganization in the second half of 2013.
The company is owned by the Romanian Economy Ministry.