REKLAMA

State Treasury wants Lotos president to step down

2007-09-11 00:00
publikacja
2007-09-11 00:00
 "The reason for this demand is the extortion of $30 (zł.83) million from Lotos' subsidiaries in Lithuania last year," said Deputy Treasury Minister Paweł Szałamacha. In his opinion the management of the firm should look after the business more, while analysts doubt whether the information on the extortion of funds is even true.

"This is an attempt to put pressure on the supervisory board of the company, as the state treasury does not have a majority among its members, which is required to dismiss Paweł Olechnowicz," said Robert Gwiazdowski of the Adam Smith Center. Some politicians of the still ruling Law and Justice (PiS) disagree with the concept and are lobbying in support of Olechnowicz. "The issue should be analyzed in relation to the concept of the planned merger of Lotos and Orlen. If there is the dismissal, the merger will come closer. President Olechnowicz did a lot of good for the company even though the results are not satisfying recently," said DI BRE Bank analyst Kamil Kliszcz. (Puls Biznesu, pp. 1, 6-7; Rzeczpospolita, pp. A1, B1; Parkiet, pp.1,2,11) M.M.


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