Is PKN Orlen chief next after major board shake-up?

Yesterday's shareholders' meeting of Poland's largest company, PKN Orlen, resulted an almost complete changeover of the company's supervisory board, depriving tycoon Jan Kulczyk of his influence and strengthening the position of the State Treasury. President of state-owned agricultural bank BGŻ, Jacek Bartkiewicz, will head the new Orlen board, replacing Jan Waga, Kulczyk's right hand man. The Treasury asked for nearly all members of the board to be replaced, citing "breach of corporate governance principles," and received support from financial investors in the company to make the changes. The Treasury's next move could be to replace the recently appointed president of Orlen Jacek Walczykowski. When asked if such a change is indeed planned, one of the Treasury's representatives asked rhetorically: "Why else would we go through all this?" (Puls Biznesu, p.4) T.J.