Chief Operating Officer Andra Olar-Caragea takes over the position of CEO of the company after 8 years of upward evolution

Bucharest, February 13, 2020 - CITR, leader of the insolvency market in Romania and part of Impetum Group, appointed as CEO Andra Olar-Caragea, former Chief Operating Officer of the company (COO), after 8 years of activity within the organization.

As CEO, Andra plans to strengthen the market position of a mature organization, with impact in saving value in the Romanian business environment, which is proven through a success rate of 100% of reorganization plans and distribution to creditors of EUR 100mln in 2019 alone.

"In the new role, I plan to strengthen the position of leader in insolvency of CITR and to carry forward its objectives already set, put into practice through the 400 projects managed by the company annually. In our strategy, an essential role will be played by innovation, through the diversification of solutions and services we provide. I will also focus on digitization and international expansion of the company. Last but not least, CITR success is due to the strength of our team, therefore I wish to contribute to consolidating our organizational culture", said Andra Caragea, CEO of CITR.

Andra takes over the management of the company from Vasile Godîncă-Herlea, who with the creation of Impetum Group becomes COO of the group and remains involved in the strategic activity of CITR as Managing Partner.

"Over the past 3 years, I made all the important decisions for CITR together with Andra, so here succession in company's management comes naturally. Moreover, the results obtained last year by our team, under the coordination and operational supervision of Andra, were above expectations. They confirm Andra's qualities to coagulate and mobilize the team and recommend her as a talented leader, good mediator and, perhaps most importantly, a person passionate about what she does", said Vasile Godîncă-Herlea, former CEO and current Managing Partner of CITR and COO of Impetum Group.

Andra's career started within CITR, and in the 8 years of activity within the company her ascent took place gradually. Since 2016, Andra was involved in CITR management as COO, with a role of coordinating the 130 CITR specialists from all over the country.

Andra's business vision and experience are completed by academic training at business schools in Stockholm and Madrid. After six years, Andra returned to the country to share her knowledge to the benefit of the Romanian business environment.