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May 12, 2021

Tarom has new Board of Directors, gets chance to level-off

Dumitru Prunariu, Dan Pascariu, Lucian Isar and Marius Ghenea, some of the new Board members of the airline reporting to Transport Ministry. The managers have a four-year mandate to make company profitable, said the minister.


The Ministry of Transport announced at the end of last week the new managers of Tarom, selected after the recruitment process. Some of the new members of the Tarom Board of Directors are Dumitru Prunariu Dan Pascariu, Lucian Isar and Marius Ghenea, Transport Minister Ovidiu Silaghi told a press conference on Friday. The other three members of the new Board of Tarom, the first state-owned company to receive private management, are Ciprian Ladunca, Valentin Macec and Heinrich Vystupil. ‘The managers have been appointed for a term of four years and have the duty to make the company profitable,’ said Silaghi. The new CEO of the Romanian airline will be elected by the Board during its first meeting that could happen on Wednesday and will be one of its members. ‘We will sign a contract of mandate with them and the strategy to sell or not sell 20 per cent of the Tarom stock belongs to them,’ said Minister Silaghi. Asked about the pay the new managers would receive, Transport Ministry officials said that, in the case of the CEO, the salary and the performance criteria would be decided by the members of the Board and the sum would be comparable to the pay of other airline managers. MTI Secretary of State Valentin Preda noted that, based on the data received from the Ministry of Finance, the Board members may receive between EUR 500 and EUR 800 per session. Dumitru Prunariu, the first Romanian astronaut, was an officer of the Romanian Army between 1978 and 2007. He led the Romanian Space Agency between 1998 and 2004 and in December 2011 became an honorary member of the Romanian Academy. Dan Pascariu has been President of the Unicredit Tiriac Bank Board since June 2007, following the UniCredit – HVB Tiriac merger. He is also a non-executive member of the Board of Directors of the leasing and investment banking subsidiaries of the UniCredit group in Romania.Lucian Isar was Minister Delegate for the Business Environment with the Ponta Government, from where he resigned at the beginning of August in the Cabinet reshuffle. His portfolio was taken over by PNL Vice President Mihai Voicu.The entrepreneur Marius Ghenea, former Flanco CEO several years ago, controls several local online stores the best known of which are pcfun.ro and pcgarage.ro.Ciprian Ladunca is running insurance company Metlife Alico Romania (formerly AIG Life), as Chief Financial Officer and Vice-President. Valentin Macec is private adviser to Transport Minister Ovidiu Silaghi. Previously he was Vice President of the Satu Mare County Council for PNL.  Heinrich Vystupil has managed the Romanian and Moldovan representation office of Austrian Airlines. The next companies for which the ministry will announce private managers are the Administration of Navigable Waterways and the Administration of Maritime Ports.

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