CEO of Complexul Energetic Oltenia, Iulius-Dan Plaveti, is becoming the head of the Romanian state-owned power giant – Hidroelectrica. He is replacing Interim Chief Executive Officer Bogdan Badea, who withdrew from the race. Mihail-Dan Stan is joining the board as the top financial executive.
Following a selection process obligatory for government-controlled enterprises, the Supervisory Board of Hidroelectrica appointed Iulius-Dan Plaveti as the CEO on May 29, according to a note for the Bucharest Stock Exchange. The new board president is taking over from Bogdan Badea, the company’s interim head.
In addition, Mihail-Dan Stan is entering the Management Board of Hidroelectrica as chief financial officer. Both have mandates that last until November 7, 2027.
Plaveti is coming from the position of CEO of coal power plant and mine operator CE Oltenia, also owned by the government. He has led the company since 2023. It is undergoing a major transformation toward solar power and gas, but with much delay and accompanied by strikes due to massive layoffs.
Interestingly, Hidroelectrica’s new chief was in the race for CEO already a decade ago, Romanian media noted. He also led the hydropower plant operator’s maintenance subsidiary Hidroserv from 2018 to 2021.
Plaveti must quit all other positions – primarily the seats in the Board of Directors of Romgaz and Tulcea Gaz.
Interim CEO Bogdan Badea switches to head of investments
Bogdan Badea was the only other shortlisted candidate, but he withdrew two weeks ago. He said it was his personal decision, but also cited political pressure from the outgoing government of Prime Minister Ilie Bolojan.
Nevertheless, the interim CEO is becoming the investment director.
Plaveti led several large state-owned companies
Iulius-Dan Plaveti has a degree in aircraft engineering from the Polytechnic University of Bucharest. He served in top management of several public companies and entities, but also private businesses.
He left the National Energy Regulatory Authority (ANRE) in 2012 from the position of president. Plaveti was a Member of the Supervisory Board of Transelectrica, the country’s electricity transmission system operator (TSO), for half a year in 2017. He was CEO of national airline Tarom, passenger railway company CFR Călători and National Company Bucharest Airports (CNAB).
Plaveti has also launched the now defunct Eco Sole Mio, a solar power project development firm. According to news reports, he was a partner in the Ansthall Green Energy wind power project until OX2 bought it.
Hidroelectrica is the country’s biggest electricity producer. It owns hydropower plants, but is also diversifying into solar power, battery storage and wind power.
