PGZ with new CEO

Polska Grupa Zbrojeniowa (PGZ) CEO, Arkadiusz Siwko resigned from his post on Monday. Błażej Wojnicz, who previously ran Polish Defense Holding was appointed in his place. Siwko, who helmed the company since December 2015, did not give reason for his decision. Several media outlets, including daily Puls Biznesu, speculated that his clashes with Defense Minister Antoni Macierewicz might have played some part in it. PGZ is a state-controlled defense group of over 60 companies with annual revenue of some PLN 5 billion.