Unexpected personnel changes in the management of PKP CARGO

Unexpected personnel changes in the management of PKP CARGO.

The company's official announcement states that the Supervisory Board of PKP CARGO has agreed on  resolutions on the basis of which it will remove the following members of the Board of Directors from their positions:

Czesław Warsewicz- Chief Executive Officer

Leszek Borowiec - Management Board Member responsible for Finance

Piotr Wasaty- Management Board Member responsible for Commerce

Witold Bawor - Management Board Member responsible for Operations

The Supervisory Board also adopted a resolution authorizing Władysław Szczepkowski, a member of the Supervisory Board of PKP CARGO, to perform the functions of the Chairman of the Board of Directors for a maximum period of 3 months.

Zenon Kozendra - Member of the Board of staff matters - remains on the company's Board of Directors.

 The reasons for the appeal were not stated. The decline in rail transport due to the epidemic affected all carriers in Poland, the negative impact on the company's results also significantly affected the state carrier PKP Cargo.