“I will attend the selection of private management at Oltchim, with a team of current directors,” Roibu told MEDIAFAX. He has run the company since 1991.
Oltchim is one of the state-owned companies for which the government has decided to implement private management. Other such companies include hydropower producer Hidroelectrica, mininig company SNLO and others.
Andreea Paul Vass, adviser to Prime Minister Emil Boc, recently said the first 7-10 companies to have private management will make the move by the end of February 2012.
The private sector managers that will be appointed to lead Romanian state-owned companies could earn as much as EUR75,000 gross per month, plus millions of euro per year in the case of highly profitable companies, if they meet the performance criteria set in the contract, according to a bill.
The Economy Ministry holds 54.8% of Oltchim, while german PCC SE holds 17.47% and British Carlson Ventures holds 14.02%.
Oltchim shares were trading mid-day on the Bucharest bourse at RON1.18 (EUR0.27), down 5.45% on the day. (EUR1=RON4.2809)