PKO BP rises after its CEO steps down

APA - Austria Presse Agentur
28-06-2006, 17:55

Warsaw (Puls Biznesu) – The market reacted calmly to the changes in the management of PKO BP. Investors are waiting for the new CEO which is going to be chosen in a competition, as the Prime Minister said.

Warsaw (Puls Biznesu) – The market reacted calmly to the changes in the management of PKO BP. Investors are waiting for the new CEO which is going to be chosen in a competition, as the Prime Minister said.

A day after Andrzej Podsiadlo, the CEO of PKO BP said he would quit, PKO BP stock rose 8.19 percent to PLN 37 (EUR 9). It was partly due to the fact that Prime Minister Kazimierz Marcinkiewicz said that the new CEO would be chosen in a competition. The stock rose on the wave of investors’ interest in biggest companies. Rival Pekao jumped 10.48 percent.

“The changes in PKO BP have been widely expected and the market has got used to them”, Dariusz Gorski, DB Securities analyst commented.

“Investors believe that the new management will not be able to spoil the situation, the bank is growing and has good perspectives”, Marcin Materna, Millennium DM analyst added.

Analysts expect that the market can react when the new CEO is chosen.

“Unless one of present deputy CEOs is nominated because then there would be no dramatic reactions”, Dariusz Gorski said.

(PLN 1 = EUR 0.245)

 

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Podpis: APA - Austria Presse Agentur

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