Economy Ministry Names New CEO At Transelectrica

04.28.2011 By Andrei Circhelan

The Romanian Economy Ministry appointed Horia Hahaianu as chief executive officer at state-owned power grid operator Transelectrica (TEL.RO), replacing Stelian Gal, who will remain with the company.

The Romanian Economy Ministry appointed Horia Hahaianu as chief executive officer at state-owned power grid operator Transelectrica (TEL.RO), replacing Stelian Gal, who will remain with the company.

The replacement was decided by order of the Economy Minister and it will be applied through a managing board decision on May 11, 2011, Transelectrica said Thursday in a statement.

Stelian Gal was appointed at the helm of the company in November 2010. Gal was also the chief of Transelectrica between 2005 and 2009.

Contacted by MEDIAFAX, Gal did not comment on the decision, but said he would stay within the company until he retires, in September.

Hahaian is the general manager of a Transelectrica unit, Teletrans.

Transelectrica is 73.68% owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) holds 13.49%.

Wednesday in Bucharest, Transelectrica closed up 2.7% at RON21.57 a share. (EUR1=RON4.076)