Suciu also said Romanian authorities will introduce a “letter of expectations” which will include the job results expected from the private management after four years of activity.
The amendments were adopted by the government, through a memorandum, in its Wednesday meeting, and, according to Suciu, they will contribute to increasing the transparency of state companies’ operations and co-opting professional managers into their management structures.
Currently, of 180 public enterprises that fall under the scope of the corporate governance rules, only 35 observe these rules.
The amendments endorsed by the government target mainly the introduction of a letter of expectations as an informal instrument of work throughout the selection process of administrators and managers, through which the public tutelary authority establishes the performance expected from the administration and management bodies of public enterprises, over a period of at least four years.
On determining the remuneration of administrators and managers, there will be considered the objectives and performance indicators established in accordance with the letter of expectations.