The Supervisory board of PKO BP has appointed new management board members, including:
§ Aldona Michalak for the position of the deputy CEO, as of 1 July 2007
§ Mariusz Klimczak for the position of the deputy CEO, as of 15 July 2007,
§ Adam Skowroński for the position of the deputy CEO, as of 23 July 2007,
§ Berenika Duda-Uhryn for the position of the deputy CEO, as of 10 September 2007,
Our view: We believe the news is positive as recently the management board was not complete and has experience a lot of reshuffles. We expect the news to have a neutral impact on the stock price today.