Politicians Replaced Transelectrica CEO Five Times In Three And A Half Years

06.01.2012 By Andrei Chirileasa

All the politicians in office at the Economy Ministry over the last four years have felt they had to appoint new chief executives at Transelectrica (TEL.RO), the company that operates the national electricity transmission system. Despite the changes, the financial results of Transelectrica have not improved and even though it holds the electricity transmission monopoly, it posted 3% profit margin last year, compared with margins of 11% to 44% at similar companies across Europe, while its shares fell below the listing price in 2006.

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