Polish treasury moves to sack Lotos chief executive |
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Published
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Mon, 10 Sep 2007 13:54
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WARSAW (Thomson Financial) - Poland's state treasury has applied to the supervisory board of state-controlled oil company Grupa Lotos to sack chief executive Pawel Olechnowicz, a deputy minister said.'I have sent a letter to the supervisory board chairman on the removal of Lotos CEO Pawel Olechnowicz,' deputy treasury minister Pawel Szalamacha told reporters. 'There have been losses in subsidiary assets. 30 mln usd has disappeared. In our opinion, the management board was too slow to act in clearing up this issue.'At 2.30 CET, Lotos shares were down almost 2 pct at 42.95 zlotys.Company officials were unavailable for comment.piotr.skolimowski@thomson.com *48 22 447 2436pjg/ms1COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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