Just four months into the job, the general manager of Romanian state-owned postal services company Posta Romana, Elena Petrascu, submitted her resignation.

She was appointed secretary general within the Transport Ministry, led by Lucian Sova, who had also named her general manager of the post.

Elena Petrascu, who took over as interim in October 2017 after the previous manager also resigned, says she and her team managed to solve in a short time several problems they had inherited, including reducing the debt to the state. The Post managed to close the debts to 15 third parties, as well as halve the state debt to some EUR 20.4 million (at current exchange rate). Petrascu argued the Post managed to pay all salaries and taxes on time, as well as continue its investment plans.

The Government decided on February 8 to start the process of capitalizing the post by some RON 170 million (EUR 36.5 million) to help it pay back its historical debt to the state budget. The operation has been opposed by minority shareholder Fondul Proprietatea, which holds 25% of the post’s shares.

editor@romania-insider.com