Head of Kompania Węglowa steps down

Krzysztof Sędzikowski has stepped down as a head of state-controlled mine Kompania Węglowa after the government failed to secure investors to keep the company afloat. "We managed to do much in the last 11 months, improve the results ... (and) guarantee financial liquidity," Krzysztof Sedzikowski said in a statement. "Unfortunately, despite many efforts, it has been impossible to conclude the next stage, which was finding investors." Under the restucturing plan, ailing Kompania Węglowa would be rescued by establishing a new entity (Nowa Kompania Węglowa), to which 11 mines would be transferred.