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January 19, 2022

Embattled Hidroelectrica head replaced

Following the resignation of Hidroelectrica CEO Mihai David (photo), the company’s Board of Administrators passed last Friday a decision to replace him with Constantin Trihenea, a counselor with the Ministry of Economy and a former prefect of Sibiu County, as of January 1, the Ministry announces in a press release quoted by Mediafax.

According to the same source, the time left until January 1 will be used to secure a smooth transfer of responsibilities. Trihenea was the prefect of Sibiu – the home county of acting Economy Minister Ion Ariton.
David became CEO of Hidroelectrica in 2009, when he replaced Traian Oprea. Last November, President Traian Ba­sescu accused David of being supported by Sorin Ovidiu Vantu, via Mircea Geoana, for the top position in the company. Basescu also said that he used his influence to replace Oprea from his top management position in the company. Just days after this statement, Oprea was replaced from the position of deputy CEO.

Hidroelectrica is Romania’s biggest power producer, with the smallest production costs. Starting from 2006, the company was in the middle of a political debate over the preferential access to cheap energy, granted to certain electricity trading companies.

Although the Ministry of Economy announced that David has resigned, the acting CEO claims he will leave the company because the mandate contract has been terminated with the agreement of both sides. “I did not resign. This is a termination of the mandate contract, agreed by both sides,” David declared for Mediafax.

On the other hand, the possible replacement all Hidroelectrica and Hidrosper managers that are members of PSD and PNL was evoked in the audio recording of a discussion that includes the deputy manager of Electrocentrale Deva company, Cristian Vladu (PDL), unveiled this weekend. In a different recording, Vladu claims that he gave “one billion and a half during in campaign,” in reference to the recent parliamentary elections.

A press release signed by the chief of PDL Hunedoara, Deputy Viorel Arion, denies any donation or sponsorship made by Vladu on his own behalf or on that of the company. Friday, Vladu admitted that the voice heard in the records aired by media, which speaks about donating “one billion and a half in the campaign,” is his own, but said the money has been legally donated and he is a “victim” in this row.
The Minister of Economy sent experts of the ministry’s Control Body to check the economic and financial situation of Electrocentrale Deva. The inspectors already urged the company to provide them with all “contracts, pay orders, invoices and personnel records,” Mediafax announces.

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