Information about remuneration of members of Tutun CTC Board is a denigration attempt

“We consider that the hasty information spread by a number of media outlets is nothing but an attempt to denigrate the Ministry, which is political in character and made by order,” the Ministry of Agriculture and Food Industry says in a communiqué, commenting on the press reports about the distribution of the net profit of Tutun-CTC SA that is under the Ministry’s control, including the remuneration of the members of the company’s Administration Board, Info-Prim Neo reports. ”The Ministry of Agriculture and Food Industry informs the mass media that it found out about its decision to give the Board’s members yearly bonuses of 120,000 lei from press reports. The decision concerning the distribution of the net profit is taken only by the general assembly of shareholders (285 in number), not by the Ministry of Agriculture,” says the communiqué. ”Prime Minister Vlad Filat, in the Government’s meeting of May 25, expressed his surprise at this decision and ordered that the case be examined. The company's Board was instructed to raise the issue of net profit distribution in one of the extraordinary general assemblies of shareholders. Even if the general assembly’s decision is absolutely legal and in accordance with the regulations concerning the representation of the state in commercial organizations (which were approved by Government Decision No. 1053 of November 11, 2010), none of the members of the Board have yet taken the yearly recompense. Thus, there is no reason to condemn actions that did not take place,” it is said in the communiqué. ”The Ministry of Agriculture and Food Industry reasserts its support for Prime Minister Vlad Filat’s proposal to limit the inflated monthly pays of the managers of state-run companies and companies in which the state has majority interest. The Ministry warns the annual lump sum recompense of the Board’s members should not be mixed up with the monthly salary of the directors of state-owned companies. It informs that it allowed no inflated salaries at the institutions that are under its control.” (On June 1, 2011) Info-Prim Neo published a news story, informing that Tutun-CTC will pay by 120,000 lei in recompense to every member of the Administration Board. A total of 600,000 lei will be thus paid out. It represents 4.5% of the net profit made in 2010. The assembly’s proceedings, quoted by the Agency, said that the over 1,000 employees will receive allowances of up to 1,000 lei. The sum totals over 1 million lei, which is 7.5% of the company’s profit.