New Composition of the Moldovagaz Supervisory Board to Be Elected No Earlier than June

The Supervisory Board of Moldovagaz JSC is functional and it is not required to convene a General Shareholders’ Meeting to decide on the replacement of its members. The company said the new board will be elected at the next annual general meeting, which is likely to be held in June 2025, ipn.md. At the beginning of December 2024, the Public Property Agency initiated the procedure of replacing Sergiu Tofilat in the Supervisory Board of Moldovagaz. PPA spokesman Ghenadie Vasilache says that the agency proposed Moldovagaz to include the election of members of the Supervisory Board on the agenda of the next General Shareholders’ Meeting. Moldovagaz said that the PPA request is not related to Sergiu Tofilat’s resignation and that the issue will be included in the agenda of the next general meeting, which is likely to be held in June 2025. The Supervisory Board consists of 6 members, 4 of which are elected on the proposal of Gazprom and 2 on the proposal of the sectoral ministry of the Republic of Moldova. The Board continues to function even after the resignation of Sergiu Tofilat in December 2024, as a quorum is provided by 5 members. The state will continue to be represented on the board by Department of Energy Secretary of State Carolina Novac. Prime Minister Dorin Recean demanded the removal of Sergiu Tofilat from his position as a member of the supervisory board of Moldovagaz, claiming that he “blocked the purchase of gas at favorable prices”. Sergiu Tofilat took up this position at the suggestion of civil society in July 2023.