The new government will start making changes in the companies of the Ministry of Finance. General meetings of shareholders will reshuffle supervisory boards, which will be replaced by boards of directors of companies.
The Ministry of Finance has shares in approximately 400 entities. The Ministry of State Assets oversees 135 companies (the average share of the Treasury in the share capital of these entities is more than 54%), several of the largest of which are publicly traded.
The Companies Code regulates the procedure for convening an extraordinary general meeting of shareholders. The board must provide the date, time and place of the general meeting and a detailed agenda.
“The delay is the result of waiting for boards of directors to convene general shareholders’ meetings. Although the Ministry of State Assets headed by Borys Budka issued such instructions a few weeks ago, it is no wonder that the company’s management was in no hurry. The boards know full well that the General Assembly will bring changes that will ultimately lead to the elimination of high-paying jobs,” writes Business Insider, noting that state-owned companies are still staffed by nominees from the previous administration.
Changes at Enea, PGE and PKO Bank Polski
Next Tuesday, January 30, there will be changes in Enea. The extraordinary general meeting will take place at 12:00 at the Mercure hotel at ul. Zlota in Warsaw. The agenda included: taking decisions on changes to the company’s supervisory board.
Shareholders of Polska Grupa Energetyczna (PGE) will meet on Wednesday. The meeting will take place at 12 noon in the Warsaw Stock Exchange building.
There will probably be changes in the supervisory board of PKO Bank Polski on Friday. The general meeting of shareholders was convened at 10:00 am at ul. Puławska in Warsaw. The current president, Dariusz Szwed, will retain his position – all because of the bank’s internal regulations. Changes to the board are unlikely to happen until February 9 at the earliest.
After the weekend there will be changes in the authorities of the Exchange.
The change of president of PKN Orlen evokes the greatest emotions. An extraordinary general meeting of shareholders will be held in Płock on February 6, where changes to the supervisory board will be introduced.
What about Obajtek?
State Assets Minister Borys Budka, who is tasked with overseeing changes in state-owned enterprises, recently said he expects the resignation of Orlen President Daniel Obajtek. – President Obajtek has clearly said that he is a representative of a specific political environment, he feels connected to it, so I appreciate his sincerity and I would expect that appropriate steps will be taken very quickly, i.e. resigning, because this is one for the obvious step seems after these statements – said the head MAP.
Obajtek stated that he would resign if there was a change of power.
Let us not forget that the Minister of State Assets dismissed Janina Goss from the Orlen Supervisory Board in mid-December. Goss is an old friend of the Kaczyński family, described by the media as the “eminence grise of the Łódź structures” of Law and Justice. Since the Center Agreement he has been working with Jarosław Kaczyński. Goss was appointed to the supervisory board of the Płock group in January last year by the then Minister of State Assets, Jacek Sasin. Her term would last until 2025.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
