Tcaciuc is replacing Dumitru Chisalita and will take over the new position on May 15.

Tcaciuc had been working for investment fund Advent Romania for more than ten years and, over the last years, along with implementing the program “private manager at state-run companies,” he had joined several executive boards.

Virgil Metea is the company’s general manager.

Romgaz has a market capitalization of RON12.1 billion (EUR2.7 billion) and is 70% owned by the Romanian state.