Romania will pay EUR 250,000 to the recruiting company that will place the new private CEO for state company Hidroelectrica, part of a plan that includes several other state companies that will have private management in the country. Romania's Economy Ministry has laid out the steps a recruitment company will have to take to enter the bid for placing private CEOs in state companies. The bid will take place between December 9 this year and January 16, 2012.

The state companies Hidroelectrica, Oltchim, Societatea Naţională a Lignitului Oltenia, Electrica Furnizare and Compania Naţională Romarm will all have private management, according to the Romanian Ministry of Economy.

Romania has already chose recruiting firm Pedersen & Partners, consulting firm Roland Berger and law firm Nestor Nestor Diculescu Kingston Pedersen (NNDKP) to create the documents that lay the foundation for choosing the recruiting firm that will place private CEOs at the helm of state companies. That contract was worth some EUR 600,000 over a year.

editor@romania-insider.com