Hidroelectrica Board members were appointed as of August 7, 2023 for a two-month provisional term or until the appointment of new members. Thus, Bogdan Badea’s mandate is expected to end in early October.
“Mr. Karoly Borbely was elected as member of the Supervisory Board of Hidroelectrica based on the Resolution of the Ordinary General Meeting of Shareholders no. 10 dated 28 March 2023, for a term of 4 years, in accordance with the provisions of Emergency Ordinance (OUG) 109/2011 regarding the corporate governance of state-owned enterprises,” the report reads.
Hidroelectrica has a dualist management system, namely, a Supervisory Board and a Board of Directors, with the latter having an executive roleand being appointed by the former.
Hidroelectrica is 80%-owned by the Romanian State and its shares are currently trading at RON107.4 per unit, up 4% since the company’s listing in early July 2023, in line with stock market data. Its market value reaches RON48.3 billion.