Report No. 27/2007

Legal basis:

Paragraph 5.1.22 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities of 19 October 2005

The report:

The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna hereby informs that on 20 June 2007 Mr. Rafał Juszczak (Vice-President of PKO BP SA Management Board) has been appointed by the Supervisory Board to the position of the President of PKO BP SA Management Board. This resolution shall come into force after the approval by the Commission for Banking Supervision Mr. Juszczak to be the President of PKO BP SA Management Board. Additionally the Bank’s Supervisory Board adopted resolutions appointing:

• Ms. Aldona Michalak for the position of the Vice - President of the Bank’s Management Board, as of 1 July 2007
• Mr. Mariusz Klimczak for the position of the Vice - President of the Bank’s Management Board, as of 15 July 2007,
• Mr. Adam Skowroński for the position of the Vice - President of the Bank’s Management Board, as of 23 July 2007,
• Ms. Berenika Duda-Uhryn for the position of the Vice - President of the Bank’s Management Board, as of 10 September 2007,

According to the adopted resolutions Mr. Juszczak, Ms. Michalak, Ms. Duda-Uhryn, Mr. Klimczak and Mr. Skowroński are appointed for the above positions for the joint term of office of the board which has started on 19 May 2005. 

Rafał Juszczak 38, earned a degree in history on the University of Gdańsk and completed Mastère Spécialisé Banque et Finance at the Rouen Graduate School of Management. Between 1994 -1996 he worked as a broker on the Mercantile Exchange as a sales specialist in Arbor Company and in the Sales and Marketing Team in Atlanta Poland SA. Between 1996 – 1998 he was the head of the Internal Audit Department in Warsaw Branch of Societe Generale. In 1998 he started to work as an assistant of Deputy President responsible for operations and technology in Bank Handlowy in Warsaw where he participated in preparation of strategic projects. Afterwards as a Deputy Director of the Integration Office he worked on a merger between Bank Handlowy and Citibank Polska. In 2001 he was a head of the Internal Clearing Department responsible for restructuring. After that he was a director of the Corporate Customers Department. Since March 2004 he was a Director of Entrepreneurs Division. Since August 2005 he was a Managing Director responsible for the Corporate Banking Division in PKO BP SA. Since 1 July 2006 he was the member of the Bank’s Management Board. Since 29 September 2006 he has been the Vice – Presidents of the Bank’s Management Board. Since 11 April 2007 the Supervisory Board of Bank appointed him to be the acting President of PKO BP SA Management Board until the election of the President of the Management Board. Since November 2006 he has been a Vice-President of the Supervisory Board in Wilanów Investments Sp. z o.o. Since March 2007 he has been a Vice-President of the Supervisory Board in Bank Pocztowy SA. 

Aldona Michalak 51, graduated from the Department of Agriculture of the Warsaw Agricultural University, the International School of Banking and Finance in Katowice (crediting business entities), attended the post-graduate course “Managing a Commercial Bank” at the Warsaw School of Economic and the course “Law for Bankers” at the Institute of Legal Sciences of the Polish Academy of Sciences. She also passed an exam for members of supervisory boards of the companies owned by the State Treasury. She worked as credit control clerk in the Department of Bad Debts and the Collection Office of Bank Handlowy. In the years 1997-2001 she worked in the Headquarters of PKO BP. She was a banking expert for syndicated loans in the Corporate Banking Department, an expert heading a team in the SME Banking Department. In the years 2001-2005 she was a deputy of the Sejm of the 4th term. In the year 2005 she returned to PKO BP S.A. as an Expert and then an Advisor to the President of the Management Board of the Bank. 

Mariusz Klimczak 39, graduated from the Adam Mickiewicz University in Poznań, M.Sc. in Physics and the Post-Graduate School of Accounting at the Poznań University of Economics. In the years 1995-1996 he was the president of the Management Board of Amper Sp. z o.o. with its registered office in Karlino. In the years 1996-2006 he worked for PKO BP. He was the Chief Accountant in the Central Branch in Poznań, the Deputy Financial Director in the Central Branch in Koszalin, the Deputy Sales Director in the Regional Branch in Szczecin and the Director of the newly created Regional Corporate Branch in Szczecin. In 2006 he left to work for BRE Bank S.A. where he has been the Director of the Corporate Branch in Warsaw. He is a member of the Supervisory Board of PL Energia S.A. and CP Energia S.A. 

Adam Skowroński 40, completed studies in Economics of the West – Extended in Tilburg, as a part of the Tempus programme in 1992, and – after graduating from the Faculty of Planning and Management, he studied Economic Cybernetics and Informatics, specialising in Data Processing and Accounting at the University of Economics where earned a M.A. degree in economics. Since 1992 he works as a lecturer at the Department of Corporate Finance of the Faculty of Management of the Poznań University of Economics, where, in 2000 he was awarded a Ph.D degree in economic science. In years 1994 – 2000 he held the position of deputy director of the Consulting Office of the Wielkopolska Business School. Since 2000, he is the vice-president of the management board of the Consulting Office of the Foundation of Poznan University of Economics. He is the author and a co-author of several dozens of publications on corporate finance management, capital structures, shareholder-management relations, information asymmetry, etc., including co-authorship of the text book Finanse przedsiębiorstw w przykładach i zadaniach (Corporate Finance – Examples and Case Studies) and the monograph Strategia kapitałowa przedsiębiorstw (Corporate Capital Strategy). In addition to teaching at the Poznan University of Economics, Dr Adam Skowroński lectures at postgraduate studies in, inter alia, banking, financial management, financial analysis and controlling, as well as in corporate finance at MBA studies at the Wielkopolska Business School, Nottingham Trent University and the University of Economics and Atlanta University. He also has practical experience from coordinating over one hundred projects, including restructuring and privatisation programs, strategic initiatives, valuations, management support systems, financial analyses, business plans, etc. Since 18 April 2006 he has been member of the Bank’s Supervisory Board. From 11 April 2007 to 30 April 2007 he was delegated to the temporary acting of functions of the Vice-President of the Bank’s Management Board. 

Berenika Duda-Uhryn 35, graduated from the Warsaw University, M.Sc. in Sociology. In the years 1991-2044 she worked for Hewlett-Packard Polska Sp. z o.o. in the Human Resources Department as: an accounts payable clerk, a credit control clerk, a consultant for searching and developing talents and, finally, as a business partner. Since 2004 she has worked for IKEA HANIM S.A. Distribution Services, where she has been the CEE HR Manager and currently she is in charge of the CEE and Northern Europe. She was responsible for, among others, creating the HR Department in the Polish branch of the company and implementing the global HR strategies therein, prepared the new policy of remuneration and non-salary incentives for the IKEA branch in Poland. Since 2005 she also co-headed the “competence group” responsible for evaluating positions and creating the competence profiles for the global distribution group. The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna informs:

• Mr. Juszczak, Ms. Michalak, Ms. Duda-Uhryn and Mr. Skowroński are not conduct any business outside of PKO BP SA competitive to the business of PKO BP SA. None of the above persons participates in any business competitive in respect of PKO BP SA as a partner in a partnership. None of above persons is a member of a governing body of a company competing with PKO BP SA or a member of any other legal person competing with PKO BP SA. None of above persons is registered in the Register of Insolvent Debtors.
• Mr. Mariusz Klimczak:
  • since 15 July 2007 will not conduct any business activity outside of PKO BP SA competitive to the business of PKO BP SA,
  • does not participate in any business competitive in respect of PKO BP SA as a partner in a partnership.,
  • is not a member of a governing body of a company competing with PKO BP SA or a member of any other legal person competing with PKO BP SA,
  • is not registered in the Register of Insolvent Debtors.