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Appointment of the Management Board members

  • No. of the report: 10/2016
  • Report date: 26.02.2016
  • Report legal ground: Art. 56 section 1 p. 2 of Act on Public Offering – current and periodic information

Contents of the report

The Management Board of PGE Polska Grupa Energetyczna S.A. (the “Company”, “PGE”) discloses that on February 26, 2016 the Supervisory Board adopted resolutions on:

- appointment of Mr. Ryszard Wasiłek to the Management Board of the ninth term of office as from March 7, 2016 and entrusting him the position of the Vice-President for Development;

- appointment of Mr. Emil Wojtowicz to the Management Board of the ninth term of office as from March 15, 2016 and entrusting him the position of the Vice-President for Finance.

Mr. Ryszard Wasiłek graduated from the Faculty of Mechanical Engineering at the Szczecin University of Technology, and completed postgraduate studies District Heating and Heating of the Warsaw University of Technology, Faculty of Environmental Engineering.

Since 2003 Mr. Ryszard Wasiłek has been the President of the Management Board of a district heating company Przedsiębiorstwo Energetyki Cieplnej Sp. z o.o. in Stargard Szczeciński. In years 1990-1994 Mr. Ryszard Wasiłek served as the Deputy President of Stargard Szczeciński, responsible for economic policy and in years 1994-2003 worked at KielArt Sp. z o.o. in Szczecin as CEO – Chairman.

Mr. Ryszard Wasiłek has been a Member of the Council of the Stargard Chamber of Commerce (since 2004), a Member of the Regional Council of the Polish Chamber of District Heating – North-Western Region (since 2010), a Member of the National Council of the Polish Chamber of District Heating (since 2014). In years 1993-1994 Mr. Ryszard Wasiłek was also the President of the Western Pomerania Municipal Community “Euroregion Pomerania”.

Mr. Ryszard Wasiłek has stated that as from March 7, 2016 his activities outside PGE will not be competitive in relation to activities of the Company and that he will be not participating in a competitive company as a partner in a partnership, in a civil partnership or as a member of body of a capital association, and he will be not participating in other competitive legal person as a member of its body.

Mr. Ryszard Wasiłek has also stated that he is not registered in Register of Insolvent Debtors, being kept on the ground of Act on National Court Register dated August 20, 1997 (Dziennik Ustaw of 2007 No. 168, item 1186 as amended).

Mr. Emil Wojtowicz is a graduate of Warsaw School of Economics (Finances and Banking). Holds ACCA, CFA and ERP qualifications.

Since 2009 Partner and Vice-President of the Management Board in SmartCon Sp. z o.o. – independent IT advisory company, specializing in implementation of Enterprise Performance Management (EPM) systems offered by Oracle and SAP.

In years 2007-2008 he held the position of Vice-President of the Management Board in PGE, supervising finance department, including accounting, controlling and treasury areas. Mr. Emil Wojtowicz was also responsible for the preparatory process for the IPO of PGE.

In years 2001-2007 he was employed in Deloitte and was responsible for valuations, due diligence and economic fraud investigation. In years 2006-2007 he was responsible for financial advisory to the power sector companies, including among others PGE, PKN Orlen and Grupa Lotos.

In years 1998-2001 employed at Ernst & Young Management Consulting Services (later Cap Gemini Ernst & Young) and was responsible for due diligence, valuations, business plans and advisory projects.

Mr. Emil Wojtowicz has stated that his activities outside PGE are not competitive in relation to activities of the Company and that he is not participating in a competitive company as a partner in a partnership, in a civil partnership or as a member of body of a capital association, and he is not participating in other competitive legal person as a member of its body.

Mr. Emil Wojtowicz has also stated that he is not registered in Register of Insolvent Debtors, being kept on the ground of Act on National Court Register dated August 20, 1997 (Dziennik Ustaw of 2007 No. 168, item 1186 as amended).

Legal ground: § 5 section 1 p. 21 and § 28 of the Regulation of the Polish Minister of Finance of February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2014 item 133).
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