Privatisation begins with change of managers

The Office for State’s Interests and Industrial Privatisation (OPSPI) will submit its 2003 privatisation strategy proposal to the Ministry of Industry and Resources (MIR) next week. The strategy targets, among others, replacing the Boards of Directors of most of the companies subordinated to the ministry, said Doru Laurian Badulescu, head of the Office. “The 2003 privatisation strategy comes with a series of necessary changes in order to make certain companies’ operations efficient in view of privatisation and to speed this process up. We will suggest the Ministry to replace the Boards of Directors and General Assemblies of Shareholders in the case of more than 50% of the companies in the ministry’s portfolio,” Badulescu said. ZF