On January 5, 2024, the board of directors of TAROM decided to appoint Kostin Iordake as the company’s acting general director. Jordake was also the CEO and previously managed Tarom.

“Kostin Jordake is a graduate of the Academy of Economic Studies and the Leadership Excellence Program of the University of Berlin. Mr. Yordache has more than 18 years of experience working in well-known national and international companies such as ABN AMRO BANK, Romtelecom or Telekom Group,” Tarom reports.

• “In reaching their decision, the Board members appreciated both Mr. Iordake’s direct contribution to the stabilization of TAROM during his previous mandate as CEO (January-October 2023) and how he joined the team as CFO in the new senior structure management of TAROM and, together with the commercial and general director, managed the company at an important stage of the restructuring plan – the main goal that the current mandate continued to aim at, after the development of the next stages, with the aim of revitalizing and optimizing the company’s activities,” the company also reports.

The board of directors of TAROM took into account ensuring the continuity of the company’s activities and the restructuring plan adopted by the management.

“Mr. Kostin Iordake’s mandate actually starts from the first day when Bohdan Popescu, the former CEO of TAROM, ends his activity in the company. Thus, all decisions made at the highest management level are constantly monitored by the company’s CEOs, who represent the company’s adopted policy, the TAROM Board of Directors, and the Romanian state, represented by the Ministry of Transport and Infrastructure, as TAROM’s shareholder,” Tarom also reports.

“The main goal of the management remains the implementation of the restructuring plan, which will lead to the revitalization of the company and its transformation into a profitable and modern organization, including those stages that previously required coordination with external forums,” the company said in a statement. .

It will be recalled that the former general director of TAROM, Bohdan Popescu, resigned at the end of last year. Bohdan Popescu was appointed to this position in October 2023. Tarom was previously headed by Costin Iordake, who is now effectively returning to the helm of the state-owned airline.

Of Costin Iordake, USR president Ketalin Drula said he had “very limited competence” when he spoke to him during his mandate as head of the Ministry of Transport. Drula accused Iorache of being “Lucian Bode’s man”.

“This gentleman was brought to Tarom by Lucian Bode in 2020. I found him there. I tried to work with him for a few months, he showed very limited competence and I replaced him. We brought a professional from Tarom, Mr. Prunarius, he is a pilot in Tarom, he is a professional. It was changed after I was no longer in the ministry. Mr. Grindianu brought back the man Lucian Bode. Was it a favor to Lucian Bode? That would be illegal because we have a corporate governance ordinance. (…) You see that in all these companies, appointments are made on the basis of completely different criteria than competence,” said Ketalin Drula in 2023, when Jordake was appointed CEO of Tarom.