According to Polish daily Parkiet, Slawomir Skrzypek, deputy CEO of PKO BP (currently acting CEO of the bank), would become a new CEO. Those speculations come from the fact that Slawomir Skrzypek, by the time of supervision commission meeting next week, will have already one year experience in managing financial institution.
Our view: Slawomir Skrzypek joined PKO BP on 8 December 2005, from his previous post as the Deputy Mayor of Warsaw, having limited banking experience. As the minimum experience required by the Banking Supervision Commission (KNB) to confirm a CEO is not strictly specified, Slawomir Skrzypek may become a new CEO, contrary to what was earlier expected. We would view this political nomination negatively, but we believe that it is doubtful that a change in top management will lead to a material shift in strategy (as PKO BP is a state-controlled bank). However, we do not expect those rumours to have a material impact on the stock price today.