The decision was made by the TeraPlast Board of Directors in June 10 2019, the company said in a statement Wednesday.
“TeraPlast Group is in a continuous expansion process and the good results we had in the last years are due to the well-trained, devoted team of professionals. Both Mrs Birta and Mr Patroiu have the training and the experience needed to achieve the set objectives,” said Dorel Goia, chairman of TeraPlast’s board.
Birta has been leading the financial department of TeraPlast since June 2017. During her CFO mandate, the TeraPlast Group recorded a 91% increase in turnover and a 55% increase in EBITDA compared with 2017.
She was responsible for the integration of the businesses that entered the portfolio of the Group in 2017 and contributed to the reorganization of the Group’s structure, namely the integration of Politub in the polyethylene segment of TeraPlast and the spin off of the recycling business in TeraPlast Recycling.
Her objectives for the new mandate are in the area of process improvement, providing an essential support for growth. Birta worked for 10 years in top audit and consulting firms and is a member of the ACCA (Association of Chartered Certified Accountants).
Cosmin Patroiu has more than 15 years experience in building materials and joined the TeraPlast Group in 2013. He was appointed CEO of TeraSteel in February 2017.
From the executive position, he contributed to the development of the company on foreign markets and has turned the factory in Serbia into one of the leading regional suppliers of heat insulating panels.
His objectives in the new mandate are to strengthen the company’s position on existing markets and expand the presence of the TeraSteel brand to new Eastern and Central European countries.
TeraSteel Romania and Serbia registered last year a turnover of RON262 million.