photo: Thomas Feldmann / Flickr/PKP CARGO
At an Extraordinary General Meeting held last week, PKP CARGO S.A. in Restructuring introduced significant changes to its Management Board and Supervisory Board.
These amendments, approved by the shareholders, include adjustments to the company’s Articles of Association, focusing on the size and composition of both boards. Additionally, a resolution was passed to select an audit firm to oversee sustainability reporting for 2024 and 2025.
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The changes to the Articles of Association involve increasing the number of Management Board members to six, including the President, for a joint term of three financial years. Moreover, the requirement to elect one Board member from candidates proposed by employees has been removed. Dr. Marcin Wojewódka, acting President of PKP CARGO S.A., explained, "The challenges facing PKP CARGO in the coming years necessitate a stronger and more specialized Management Board to efficiently tackle the company’s future tasks."
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In addition to the Management Board changes the Supervisory Board was reduced to a membership range of 7 to 9 individuals, down from the previous 11 to 13. Employees retain the right to appoint one representative. Dr. Wojewódka commented on this, saying, "While employee participation is important, reducing their representation to one member reflects the company's status as a publicly listed entity, ensuring transparency and efficiency."
Source: PKP CARGO
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