Kompania Węglowa recalls president

The supervisory board of Kompania Węglowa has recalled Krzysztof Sędzikowski from his position as president of the company and nominated board member Tomasz Rogala to take his place as a caretaker for three months, the Ministry of Energy announced on Thursday. The move is part of a wider government initiative to save many firms in the mining sector by restructuring Kompania Węglowa and turning it into the new Polska Grupa Górnicza (PGG). The aim of the new firm is to cut the costs of producing coal in 2017 to PLN 214 per tonne and increase productivity in 2018 to 948 tonnes per year. PGG has a target to become profitable by 2017.