CFM director resigns amid financial crisis
Serghei Tomșa, the interim director of Moldova's Railway Company (CFM), submitted his resignation today, February 25.
Roman Cojuhari, head of the Public Property Agency, confirmed the information to Teleradio-Moldova.
"Mr. Tomșa has submitted several resignation requests, and there have been numerous discussions to persuade him to stay. We are currently in discussions with him about remaining at the helm of the company. His resignation letter does not provide any reasons," Roman Cojuhari said.
We reached out to Serghei Tomșa for comment, but have not yet received a response.
Serghei Tomșa has served as the interim director-general of Moldova's Railway Company since February 2024, following the resignation of Oleg Tofilat on January 29. At that time, Oleg Tofilat cited three main reasons for his resignation. First, he expressed deep concern about CFM's operational continuity, stressing the need for liquidity and efficiency.
The situation at CFM began to deteriorate after August 2022, when rail traffic from Ukraine drastically decreased following the reopening of the port of Odessa. This led to a decrease in CFM's revenue and, consequently, increasing delays in employee salary payments, with some facing arrears of several months. Amidst a financial crisis and millions of lei in unpaid salaries, CFM implemented a four-day work week in September 2024. The company cited a significant decrease in freight traffic as the reason for this decision. In an attempt to alleviate the financial burden and partially cover outstanding salaries, CFM auctioned off old railcars and parts last year, but these measures proved insufficient to improve the company's financial situation.
Translation by Iurie Tataru
