Elektrim president is ousted; Radziwill tipped to take over

The supervisory board of Elektrim recalled president of the company Jacek Krawiec on Friday. An anonymous source has it that Maciej Radziwill was appointed the new chief executive of the conglomerate, dominated by BRE Bank and Vivendi Universal. According to unofficial information, Robert Butzke replaced deputy president of the company Jan Rynkiewicz. The company's press office so far has failed to release any communiqué on personal changes in its management. Elektrim has held restructuring talks with the holders of euro 480 million of its defaulted bonds. In a meeting scheduled for April 23 creditors are to vote on offers presented by the company's management, who want to have Elektrim's debt reduced by 15%. (Prawo i Gospodarka, April 21-22 p. 3) K.S.