Romanian Economy Minister Daniel Chiţoiu said that last week  the selection procedure of private managers for 48 state companies companies was launched, the process is scheduled for completion by the end of this year.

"We have selected 48 companies and national companies in which to implement private management. (...) The selection of private managers and the board will be completed later this year," said Chiţoiu.

The Minister said a short list of candidates will be finalized by the end of July this year.

In early July, Chitoiu said that the selection procedure for consultants who will recruit professional managers for 47 state companies had begun. The list of companies includes Hidroelectrica, Oltchim, Oil Terminal, Conpet, Romgaz, Transgaz, ELCEN, Electrocentrale Deva, Electrocentrale Galaţi, Electrocentrale Paroşeni, Transelectrica and Salrom.

So far, no private managers have been named and the contract between the Economy Ministry and Pedersen & Partners to find headhunters that would choose professional managers terminated end May. The given reason was changes demanded by the Ministry, but no further details were released.

Ioana Toader, ioana.toader@romania-insider.com