KGHM CEO dismissed due to losses on foreign assets – Tchórzewski

The CEO of WSE-listed, state-run copper and silver giant KGHM, Radosław Domagalski-Łabędzki was dismissed, as the company was generating losses on its foreign assets, Energy Minister Krzysztof Tchórzewski said. “The supervisory board expected changes to KGHM's operations abroad. The company is still generating losses on foreign operations, while it falls short on investments in Poland,” Tchórzewski said. “We need systemic solutions; the company cannot do nothing, there must be a plan for moving forward,” he explained. Last week, KGHM's supervisory board dismissed CEO Radosław Domagalski-Łabędzki and deputy CEO for foreign assets Michał Jezioro and appointed Deputy CEO Rafał Pawełczak as acting CEO.