Daily Parkiet speculates that today the Supervisory Board may decide on who is going to be the next CEO of the company. The tenure of the current management board expires with the closest EGM (28 June). In the running for the post are current CEO Mr Wirth, Mr Jacek Levernes, management board member of Hewlett-Packard Europe Mr Arkadiusz Gieralt, the local Civic Platform representative and former manager of KGHM and Mr Janusz Guy the former CEO of Bioton.
Our view:
The news is neutral in terms of today’s trading. We view positively the fact that managers from large private enterprises are in the running for the post. Current CEO Mr Wirth has proved his managerial skills over the last four years, managing the company wisely during the crisis and finalizing the biggest capital investment in the company’s history. Also, Mr Wirth refused to bow to the demands of trade unions regarding salary increases, which had been troublesome for his predecessors.