Poland's Orlen names former Lithuanian chief as CEO
Reuters
Published Apr 10, 2024 20:02
WARSAW (Reuters) - Poland's state-controlled energy company, Orlen, on Wednesday named Ireneusz Fafara as CEO. He was formerly the head of the company's Lithuanian operations.
The company had conducted a nearly two month-long search with 260 candidates applying to become members of the management board.
In February, Orlen's supervisory board underwent sweeping changes at the request of the new pro-European coalition government.
Polish Prime Minister Donald Tusk has said he sees Orlen and its former CEO as symbols of the previous nationalist administration's policies of using state-controlled firms for political purposes.
Prosecutors launched investigations into Orlen's fuel-pricing policies ahead of the last election, while the state audit office alleges that Orlen sold assets of peer Lotos for at least 5 billion zlotys ($1.26 billion) below their estimated value.
Orlen says the merger was a transparent process supervised and controlled by several institutions.
($1 = 3.9671 zlotys)
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Written By: Reuters
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