New CEOs appointed to guide LOT in the right direction

"This is a good day for LOT. The carrier deserved a good and competent management board for a long time," said Jacek Kseń, chairman of the company's supervisory board. The new CEO is an economist and chartered accountant who was preparing LOT for its IPO before last year's change in the composition of the management board of the firm. The deputy CEOs are Wiesław Wypych in charge of operational and technical affairs and Andrzej Wysocki, at present tasked with reaching a settlement with the trade unions. A deputy CEO for commercial affairs has not been appointed as, "We shall look for such person both in Poland and abroad. LOT gives huge opportunities to young and smart managers," said Jacek Kseń. The new president has declared he is sticking to the plan of privatizing the firm and to this end within one month the new management board will verify the strategy and determine the future of LOT's subsidiary Centralwings. Prior to an IPO, the firm will undergo restructuring but, "I do not want to get involved in a capital transaction without settling the labor issues," said Kseń. (Rzeczpospolita, p. B4; Parkiet, p. 1, 10; Puls Biznesu, pp. 1, 8) M.M.