The resignation took effect on September 13, CFR said in a statement Wednesday.

Mindrutescu, former Oracle Romania CEO, had been named president of CFR’s executive board in April.

The other members of the board are Peter Weiss (former head of Bancpost and RBS Romania), George Micu (former general manager of CFR Marfa), Florian Kubinschi, Enache Jiru and Tcaciuc Sebastian Gabriel.

The current executive board was appointed in April after the Transport Ministry rejected the management plan of the former board, which led to the dismissal of its members.

The revenues of CFR SA rose 3.5% in the first half to 1.16 billion lei (EUR0.26 billion). (EUR1=RON4.4751)