Constantinescu replaces Decebal Sulea, the sources said.
Hidroelectrica entered insolvency on June 20 impacted mainly by selling electricity outside the energy exchange at prices below market levels.
The Bucharest Court decided Thursday the company may exit insolvency. The decision is not final and may be appealed with the Bucharest Court of Appeals.
Romania’s Government wants to list on the Bucharest bourse 10% of Hidroelectrica’s shares once the company completes insolvency proceedings.
Hidroelectrica registered gross profit of 380 million lei (EUR86 million) in the first five months of the year and expects gross profit of RON434 million in 2013. (EUR1=RON4.4463)