PKN Orlen boss looks set to be voted out of office

The president of oil giant PKN Orlen looks set to lose his job, with rumors suggesting that his replacement might be current Treasury Minister Aldona Kamela-Sowinska. According to unofficial sources quoted by Puls Biznesu, Andrzej Modrzejewski will be dismissed from his post during the next meeting of the company's supervisory board, scheduled for September 19. The official reason for Modrzejewski's dismissal is his "lack of loyalty to the Treasury Ministry", although sources close to the Ministry say that the real reason is his support for the OMV of Austria bid for a stake in PKN Orlen. Puls Biznesu reports that despite press speculation to the contrary, the Treasury supports the bid of MOL of Hungary for the 17.6% stake. To replace the PKN Orlen head, the Treasury needs the support of a majority of the supervisory board. But since five out of nine members are Treasury representatives, the vote is expected to be a formality. (Puls Biznesu, p. 5) P.J.