about us | newsletter | contact | archive | members area
"With more than five per cent economic growth, Romania is one of Europe's champions of growth
Brent Valmar, Porsche Romania»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Fondul Proprietatea accuses corporate governance weakening in Nuclearelectrica

Fondul Proprietatea warns of weakening of corporate governance in Nuclearelectrica, regarding the two new points proposed by the Ministry of Energy in the convening notice of Nuclearelectrica's General Shareholders Meeting scheduled for August 24.

2017-08-23 13:44:35

According to a press release, Fondul Proprietatea says that Nuclearelectrica's interim supervisory board is to be changed with another four-month board, even though the expiration of the current board members mandate was known to all shareholders for months now. Furthermore, under the new mandate contracts, Board members are no longer held accountable for non-competition obligations, permitting flagrant conflicts of interest.

Johan Meyer, co-CEO and co–portfolio manager of Fondul Proprietatea, said: "Given the similar situation at Hidroelectrica, making detrimental changes to the board mandate contracts seems to be a common practice of the Ministry of Energy. This situation raises serious concerns about the energy sector board members' accountability to act in the best interest of the company and not use their board positions in companies like Nuclearelectrica and Hidroelectrica to serve other interests than those of the companies."



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4356 Views
Daily Info
Openville Timisoara to open in the fourth quarter of 2018

The Openville Timisoara development, the largest mixed-use project in the west of Romania will be opened in the fourth quarter of next year, upon completion of the first phase...

URBB posts record production figure in 2017

United Romanian Breweries Bereprod (URBB) registered a record production figure exceeding two million hectolitres for the period January-November 2017, representing a 10 per c...

Cristian Busu has been reappointed president of Electrica's board

Cristian Busu has been reappointed president of Electrica board, the electric energy supplier. He is a member of the board since 2014 and was chosen in this position during th...

Transelectrica inaugurated the Campia Turzii station, fully refurbished with 9 million Euro

Transelectrica inaugurated the 220/110/20 kV Campia Turzii (Cluj County) electricity station, after an investment of about 42 million RON (9 million Euro).

CTP starts CSR project for the workforce market nearby Bucharest

CTP is starting a social responsibility program that aims to facilitate a series of meetings between high school students and representatives of important companies that are t...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

advertising

advertising

advertising

More on News
Former PM Ciolos: We cannot risk Romania's future

Former Prime Minister Dacian Ciolos was present Sunday evening at the protest in Bucharest, on which occasion he argued that he considered joining the manifestations becaus...

PM Tudose reaffirms commitment to unconditional partnership with Romanian Army

The government of Romania has always been and will stay an unconditional partner to the Romanian Army, Premier Mihai Tudose said in a message on the National Army Day.

Romania initiates first meeting of EU Council Presidencies' Trio with Finland and Croatia

Minister-Delegate for European Affairs Victor Negrescu has initiated on Monday in Brussels, the first, minister-level meeting of the Trio of Presidencies that Romania is du...

Minister Negrescu: Romania is profoundly pro-European, we will be even more significant after Brexit completion

Minister Delegate for European Affairs Victor Negrescu said on Thursday that Romania is a profoundly pro-European state and will become more significant after the Brexit pr...

Iohannis: A significant delay in tax measures would be required

President Klaus Iohannis said that a significant delay in the amendments to the tax legislation would be required, adding that the January 1, 2018 deadline for their applic...

Dragnea: Amendments to the tax code, code of tax procedure to pass under government ordinance

Amendments to the tax code and the code of tax procedure will pass under a government ordinance and will be unveiled after the government meeting, national leader of the So...

Iohannis: Romania has made progress with equal opportunities, needs to speed up gap bridging

Romania's President Klaus Iohannis said that although important progress has been made in Romania in terms of gender equality, the country needs to speed up bridging the ga...