Top resignation at CFR Marfa, one month after nomination

The failed attempt to improve the situation of state-run company CFR Marfa seems to linger on, as no manager was able to successfully complete his term of office, because of various reasons. The general manager of CFR Marfa, Dan Valentin Belcea, nominated in April this year, submitted his resignation Tuesday invoking personal reasons. “The resignation was submitted Tuesday morning, as Mr. Belcea invoked personal reasons,” officials from the Ministry of Transportation, which controls CFR Marfa, told Mediafax. The Board of Administrators of CFR Marfa will meet and designate a new manager, added the sources. CFR Marfa announced on 11 April the nomination of Belcea in the top position with the company. Previously, Belcea was a member of the Board of CFR Marfa. Until his nomination, the post was held on interim basis by a deputy general manager, Pavel Barculet, after the demise of the former company manager Dragos Alexandru Draghici.
Belcea told days ago, when he was still general manager, that CFR Marfa is on the right track, with minimal losses in Q1. He added that the restructuring is necessary and the number of 2,500 employees (to be laid off) was arbitrarily chosen and agreed with the IMF. The final target of the company is to have a net profit of RON 82 M (EUR 18.6 M) until the end of the year.
The state company CFR Marfa, the country’s biggest railway freight carrier, with a turnover of EUR 208 M last year, won new contracts worth approximately EUR 13 M over the last six months. The most recent contract gained by CFR Marfa spreads on 2 years, has a value of RON 8-10 M (EUR 1.8 – 2.2 M) and was signed with ArcelorMittal Galati.
EUR 10 M guarantee, returned to Gruia Stoica
CFR Marfa competes against many private players, the largest being Grup Feroviar Roman (GFR), controlled by businessman Gruia Stoica, accused of influence peddling in the process of buying the state company, and who will be tried under house arrest. Transportation minister Dan Sova decided to return to Gruia Stoica the money he provided as guarantee for the failed privatisation of CFR Marfa, although the EUR 10 M had been requested by DIICOT prosecutors, informs. The company issued a communique stating that GFR “is not prosecuted in any criminal investigation and no sequestration was instated on the accounts or assets of the company.”

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