Former director of Electrica, Ioan Folescu, resigns from the mandate of Transelectrica

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Bogdan Tudorache

Former director of Electrica, Ioan Folescu, criminally investigated for possible damages to Electrica company, resigned from the Transelectrica board of directors, according to a report addressed to the Bucharest Stock Exchange.

“The National Electricity Transport Company Transelectrica informs the investing public that, according to the ones recorded in the communication registered at the Company level on January 08, 2020, Mr. Ioan Folescu is resigning from the mandate entrusted by a provisional member of the Company’s Board of Directors since January 09 2020 ”, the report shows. Folescu had taken over the mandate from Transelectrica in the middle of last month.

Last November Electrica has sued a part of the former directors and administrators for recovering a damage found by the Court of Accounts worth 235 million lei, plus interest.

The action was opened “in order to attract the responsibility of the persons who held the functions of administrator and respectively of the directors of Electrica, for the unfulfilled / unfulfilled obligations, according to art. 155 of Law no. 31/1990, which determined the recording of the damages retained by the Court of Accounts of Romania (CCR), as this action was approved in the Ordinary General Meeting of Shareholders (AGOA) Electric on November 14, 2019; as well as against the representative of the Authority for the Recovery of State Assets (AVAS) in the OGMS Electrica dated December 10, 2008 and of the issuer of the voting mandate at the respective OGMS, in order to implement the measures provided by the CCR for remedying the deviations noted in points 1-5 of the CCR Decision no. December 12/27, 2016, issued as a result of carrying out the control regarding the administration of the Electricity patrimony for the period January 1, 2013 – June 30, 2014,” is shown in the release issued to the Stock Exchange.

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