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BUCHAREST - Romanian utility company Societatea Energetica Electrica SA (BVB:EL) disclosed Friday that women represent 14% of its Board of Directors, with just one female member among its seven non-executive directors.
The annual gender balance report, required under Romanian securities law, revealed that Georgiana Bogașievici is the sole female director on Electrica’s main board, while the remaining six positions are held by men.
The company noted that at the broader Electrica Group level, which includes all subsidiaries, the gender balance shifts significantly. Across all group companies’ boards, males represent the underrepresented gender at 46.88%.
Electrica’s distribution subsidiary, Distributie Energie Electrica Romania SA, has a board composed of four women and one man. The renewable energy project companies within the group also demonstrate higher female representation, with three of the four subsidiaries having boards with female majorities.
The company stated it is "firmly committed to promoting equal opportunities, respect for diversity and active inclusion across all organizational structures." Electrica signed the Diversity Charter, a pan-European platform for diversity management, in January 2022.
To comply with Romanian securities law requirements, Electrica plans to update its existing policies and board profile within legal deadlines to strengthen gender balance. The company indicated it will ensure that future selection processes for management positions are "appropriate, neutral, and non-discriminatory."
Electrica operates under a unitary management system with all board members serving in non-executive capacities. Most current board members’ terms run until January 2028, according to the press release statement.
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