Management board salaries increase faster than revenues of partnerships

Last year over zl. 331 million had to be paid by shareholders to the management boards of publically listed companies, and most of this sum was spent by the owners of copper conglomerate KGHM Polska Miedz and BIG Bank Gdanski (BIG BG). This is an increase of over 40% from 1998 and the net result (sum of profits and losses) of analyzed partnerships increased by only 13.7% over 1998. Shareholders of KGHM paid zl. 13.2 million to the management boards in 1999, but half of this amount was paid to the dismissed members of the management board together with compensation. The cost of the management board of BIG BG was zl. 9.9 million. (Parkiet, page 1) M.M.