04/01/2024, 05:50

Polska Press operates as a limited liability company. Orlen owns 100 percent of it. Shares. Changing the government is easy (Photo: Wojciech Olkuśnik/East News)

The extraordinary general meeting of Orlen shareholders convened on February 6 will also be the beginning of changes in the Polska Press publishing house belonging to the concern. – I think the composition of Orlen's supervisory board will change on that day. And then things will develop quickly: Daniel Obatek is expected to lose his position as president of the management board and the management of Orléans' main companies will change, including: Polska Press – says Dr. Marcin Wojewódka, founder and partner of the law firm Wojewódka i Wspólnicy.

During the extraordinary general meeting of shareholders of Orlen, decisions will be made to approve the sale of selected assets, including: 100 percent shares in Gas Storage Poland.

– However, the agenda of the general meeting can be extended at the request of a shareholder representing at least one-twentieth of the capital. 49.9 percent is in the state treasury. Orlene shares. Therefore, it is expected that the government of Donald Tusk will use the general meeting convened on February 6 to change the members of the supervisory board, says Markin Voivodka.

Currently, Orléans' eight-member supervisory board is made up of appointees from the former United Right-wing government. Wojciech Jasinski is the chairman of Orlen's supervisory board, and Andrzej Shumanski is the vice-chairman. Anna Wojcik is his secretary. The members are Andrzej Kapala, Roman Kus, Ana Sakovic-Kacz, Jadwiga Lesis and Barbara Jarzembowska. The resignation of Orléans CEO Daniel Obateki, announced by the politicians of the current coalition, must be preceded by a change of the company's supervisory board.

– Clause 4 of Part 7 of Orlen's Charter clearly states that the appointment of members of the Supervisory Board is within the competence of the general meeting of shareholders – lawyer Marcin Vojevodka notes.

According to him, Orléans' new supervisory board, made up of people appointed by the coalition, could oust Daniel Obatek's governing board on the same day. – All relevant resolutions will most likely be prepared, I do not rule out that they are already ready. Second, it probably also applies to Orlen's daughter companies, which include Polska Press, says Markin Wojwodka.

Polska Press operates as a limited liability company. Orlen owns 100 percent of it. Shares. Today, Stanislaw Bortkiewicz is the president of Polska Press, and Dorota Kania, Miloš Šulči and Lukasz Gresta are members of the board of directors.

– Here, changing the government is very easy. Orleans' board of directors can exercise its ownership rights and change its management virtually overnight. It is possible that the change in the management of Orlen and key subsidiaries will be completed on Friday, February 9, notes Dr. Markin Wojewodka, noting that the company agreement may include certain special procedures.

(JF, 04/01/2024)


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