The former CSA and CNVM heads will receive severance pay of over EUR100,000
Romania’s Financial Supervisory Authority (ASF) was set up on April 29 through the takeover and reorganization of CNVM, CSA and private pension system regulator CSSPP.
According to Prime Minister Victor Ponta, former CSA president Daniel Tudor made 188,000 lei (EUR40,000) per month, ex CNVM head Carmen Negoita earned RON80,000 per month and CSSPP head Marian Sarbu received monthly pay of EUR14,000.
Tudor is currently ASF vice-president on the insurance segment and Sarbu is ASF non-executive member.
Romania’s government decided to reorganize Posta Romana and lay off 3,650 employees, or 11.4% of its staff. Laid-off employees will receive three to 30 salaries as severance pay depending on seniority, company general manager Ion Smeeianu said recently.
The postal company currently employs around 32,000 people.
ASF said in a press release Thursday the institution is financed from its own revenue resources and wages are not paid from the state budget.
ASF head Radu Rusa¬nu earns EUR14,000 per month. Vice-president Daniel Daianu receives 95% of Rusa¬nu’s pay. The institution’s 12 non-executive members make EUR3,600/month each. (EUR1=RON4.3794)