Milea has been working with Prospectiuni for over 30 years and started as geo-physician. Since 2000, he has been production manager and chief operations officer.
Schultz was named president and general manager with Prospectiuni in November 2008 and resigned Wednesday from personal reasons.
Nicolae Petrisor, previously member of the Board, was named president of the Managing Board.
Prospectiuni is 55.7%-owned by local businessman Ovidiu Tender, regional investment fund SIF Muntenia holds an 11.82% stake and the remaining stake of 32.4% is distributed among several shareholders.