Nawrocki resigns, who will be the new PZU president?

The president of PZU Zycie, the largest life insurance company, Ireneusz Nawrocki, presented his resignation to the supervisory board which met yesterday. His decision is widely recognized as the result of frustration resulting from behind the scenes attempts to remove him by the President of PZU, Zdzislaw Montkiewicz. "My resignation was caused by the lack of possibilities to introduce new plans for the company. Every president has the right to make independent decisions and to take effective action," Nawrocki, who took over the post in January 2002, told Puls Biznesu. The decision was made only two days before the general shareholders meeting, where changes to the supervisory board are expected. According to rumors quoted by daily Rzeczpospolita, the most probable candidate for the vacant post is Zdzislaw Montkiewicz, whose appointment would have to be accepted by the State Treasury. Another possible candidate is Krzysztof Kluzek, a former member of the PZU supervisory board. (Rzeczpospolita, p. B1; Puls Biznesu, p. 6; Prawo i Gospodarka, p. 1) A.K.