Nawrocki replaces Masztalerz at the PZU Zycie helm

Ireneusz Nawrocki has been appointed the new president of the supervisory board of life insurer PZU Zycie, following the sudden dismissal of Krzysztof Masztalerz. According to Rzeczpospolita, it was head of the PZU Group, Zygmunt Kostkiewicz, who asked the Treasury to dismiss Masztalerz, who took over from the infamous Grzegorz Wieczerzak. During the nine months that he headed PZU Zycie, Masztalerz was credited with saving the company millions by withdrawing from Elektrim bonds in time, introducing clear rules of decision making, and reducing marketing and advertising costs. However, Rzeczpospolita reports that Kostkiewicz had been unhappy with him for several months. The new president said he hopes to "introduce new standards of management and eliminate tension within the PZU Group." Nawrocki, who has no previous insurance experience, is a former head of Poland's national power grid. (Rzeczpospolita, p. B5; Puls Biznesu, p. 7) M.K.