Karoly Borbely, a former Communications Minister between December 2007 and December 2008, has been appointed Public Affairs director with Telekom Romania.

Borbely was part of the cabinet led by the Prime Minister Călin Popescu Tăriceanu, now the head of the Romanian Senate.

Between March 2010 and May 2012 he was a State Secretary at the Economy Ministry, where he coordinated Romania’s network of commercial attaches in over 80 countries.

Borbely was also a State Secretary with the Energy Department between March 2014 and December 2015. In this post, he was part of the team that worked on the listing of state-owned power producer Electrica at the Bucharest and London stock exchanges.

He then moved as Strategy and Corporate Affairs director with state-owned power producer Hidroelectrica between June 2015 and June 2017. Here, he led the process for the company’s listing on the Bucharest Stock Exchange, which hasn't been finalized yet.

Borbely holds a management degree from the Economics Faculty of the Babes Bolyai University in Cluj Napoca. He also took a specialization Building Businesses in Emerging Markets course at Harvard Business School.

Telekom Romania includes Telekom Romania Communications, the former landline phone operator Romtelecom, and Telekom Romania Mobile Communications, the former mobile phone operator Cosmote. It is owned by German group Deutsche Telekom through Greek OTE Group.

Telekom Romania reported EUR 229.8 million revenues in the first three months of this year, 1.7% lower than in the same period of 2016. In May of this year the company announced a restructuring effort that entails firing a third of its managers.

editor@romania-insider.com

(Photo source: udmr.ro)