The private management at CFR has fizzled -
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News » April, 2013 » 16 April 2013

The private management at CFR has fizzled
16.04.2013, 00:00 | Transportation | 903 views

After about three months at the helm of CFR SA, Dimitris Sophocleous has resigned from the position of private manager of the company, due to the fact that the Minister of Transports has rejected the administration proposed by the Board of Directors (CA).

According to the law, this leads to the termination of the term of the directors, which accuse the politicians of being "desperate" not to lose control of a state-owned company and of the European grants.

The state owned company states: "We estimate that this abrupt change is not based on any economic arguments, as the company's situation has improved over the last few months, but rather by the desperation of the political factor not to lose its influence on the resources of a state owned company and of the European financing".


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