Warsaw (Puls Biznesu) – Tomorrow, Extraordinary GSM will be held in the companies from PZU group. All the members of their supervisory boards recommended by Eureko will be dismissed.
Yesterday, the boards of directors of PZU and PZU Zycie, the main companies of PZU, Poland’s biggest financial group met. The main issues discussed concerned the recommendations for the representatives of both companies in the supervisory boards of five firms from the insurance group. The EGSM will be held this Thursday.
The companies concerned include PTE PZU (it manages Poland’s third largest pension fund), TFI PZU, PZU Tower (intangible assets), PZU Asset Management (manages PLN 20 billion, or EUR 5.2 billion, of the assets of the companies building the group) and CIG PZU, the IT center. According to “PB” sources the following people will be dismissed: Wiktor Askanas, Jerzy Zdrzalka, Frederik Hoogerbrug (PTE PZU), Frederik Hoogerbrug and Roelfina Banus (TFI PZU), Witold Walkowiak and Ewa Grajek (PZU Tower) as well as Witold Walkowiak and Frederik Hoogerbrug (PZU Asset Management) and Ewa Grajek and Magdalena Nawloka (CIG PZU).
The privatization agreement of PZU provides that the Dutch investor has the right to recommend the members of the authorities in three companies: PZU, PZU Zycie and PTE PZU. The other subsidiaries do not have such provisions. After the changes, the supervisory boards will consist of people recommended by direct shareholders, i.e. PZU and PZU Zycie. The latter companies are dominated by the representatives of the Ministry of the Treasure. That’s why they do not approve of Eureko’s representatives.
(PLN 1 = EUR 0.258)