(40 PLN, -2,64%) Orlen EGM dismissed the Supervisory Board yesterday and elected a new one. Owners appointed Mr. Maciej Mataczynski to the position of Chairman of the Company’s Supervisory Board. The SB has seven members, and out of them five are independent, including Mr. Mataczynski.
We welcome that Orlen’s SB is now better reflecting the ownership structure of the company. According to press information the new SB is unlikely to dismiss the CEO in the short-term, however, the question might come back to the agenda at the AGM in the early summer. We consider the
news on the new SB as slightly positive.