Michał Domagała was appointed to the supervisory board of PGE Polska Grupa Energetyczna. The decision on this matter was made by the Minister of State Assets, Borys Budka, who represents the State Treasury. At the request of the head of MAP, major changes also took place in the supervisory board of Tauron.
The management board of PGE Polska Grupa Energetyczna SA announced that the company received a declaration from Minister Budka on the appointment of Michał Domagała to the supervisory board of PGE as of January 25, 2024. “The declaration in question was submitted pursuant to § 20.5 of the company’s statute, which grants the Treasury Your right to appoint and dismiss one member of the PGE supervisory board by way of a written declaration submitted to the company’s management board,” we read in the stock exchange report.
The State Treasury has 60.86 percent. shares in PGE Polska Grupa Energetyczna.
It was emphasized that Michał Domagała made a declaration that his activities outside PGE were not competitive with the company’s activities.
PGE General Meeting
An extraordinary general meeting of shareholders of PGE Polska Grupa Energetyczna is scheduled for next Wednesday, January 31. Further changes to the company’s supervisory board were planned during the meeting, which may ultimately result in the dismissal of management board members.
Pursuant to PGE’s statute, the management board or individual management board members, including the president and vice-presidents, are appointed and dismissed by the supervisory board. The supervisory board of PGE includes, among others: Janina Goss, friend Jarosław Kaczyńskiwhich recently was dismissed from the Supervisory Board of Orlen.
Wojciech Dąbrowski has been the president of the management board of PGE since February 20, 2020.
Changes in the supervisory board of Tauron
On Thursday, there were also changes in the supervisory board of Tauron Polska Energia. Four existing members were dismissed by the minister Borys Budka.
“Tauron Polska Energia SA informs that on January 25, 2024, it received from the shareholder of the State Treasury represented by the Minister of State Assets declarations regarding: dismissal on January 25, 2024, (…) the following persons from the Issuer’s Supervisory Board: Mr. Dariusz Hryniów, Mr. Ryszard Madziar, Mr. Piotr Tutak, Mr. Marcin Wawrzyniak. The statements did not indicate the reasons for the cancellation,” Tauron said in a stock exchange report.
In their place, four new MAP members were appointed. These are Natalia Klima-Piotrowska, Katarzyna Masłowska, Karolina Mucha-Kuś and Sławomir Smyczek.
The dismissed Piotr Tutak was the previous chairman of the supervisory board of Tauron. Leszek Koziorowski, Grzegorz Peczkis and Teresa Famulska remained on the supervisory board.
In the shareholder structure of Tauron Polska Energia, the State Treasury has 30.06 percent. votes, KGHM Polska Miedź (a company controlled by the State Treasury) 10.39 percent, Nationale Nederlanden 5.06 percent, and other shareholders 54.49 percent. votes.
Pursuant to the company’s statute, the State Treasury has the right to appoint and dismiss half of the members of the supervisory board, provided that it holds more than 25 percent. total votes at the general meeting. The remaining shareholders are subject to a 10% limit on the number of votes at the general meeting. even in a situation where they have a larger share in the share capital.
According to the statute, members of the management board or the entire management board are appointed and dismissed by the supervisory board, entrusting the functions of the president and vice-presidents. The president of the management board of Tauron Polska Energia is Paweł Szczeszek.
Main photo source: Grand Warszawski / Shutterstock