PKN Orlen’s new CEO, Mr Piotr Kownacki will become the Chairman of Unipetrol’s Supervisory Board as a replacement for ex-PKN-CEO Mr Igor Chalupec, who stepped down from the same function on 26 January 2007 - according to Euro OnLine. Unipetrol will hold an EGM on 5 March 2007, which is set to approve the changes.
Our view: We see the news as neutral, as we see it a common practice that the new group CEO assumes the positions of the previous CEO at the key subsidiaries.